Have you been eager to see how CBRE Group, Inc. performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real operations firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings of 52 cents per share, beating the Zacks Consensus Estimate of 51 cents.
Strong results were aided by year over year increase in revenues.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q2, the company delivered positive surprises in all the four trailing quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.85% in the trailing four quarters, prior to this earning.
Revenue Almost In-Line
CBRE Group posted revenues of $3.21 billion, almost in-line with the Zacks Consensus Estimate. Revenues were much higher than the year-ago number of $2.39 billion.
Key Developments to Note
Amid uncertainty, CBRE’s performance during the quarter has been marked by robust growth in occupier outsourcing and mortgage services.
CBRE has revised down the expected 2016 adjusted earnings per share range for the rest of the year to $2.15–$2.30 from the earlier guidance of $2.27–$2.37. This was, per Bob Sulentic, the company’s president and chief executive officer, “due principally to the impact of Brexit on UK property transaction volumes, and less visibility around the timing of the realization of certain incentives in our global investment management and development services businesses.”
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this CBRE Group earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Image: Bigstock
CBRE Group (CBG) Beats Q2 Earnings Estimate
Have you been eager to see how CBRE Group, Inc. performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real operations firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings of 52 cents per share, beating the Zacks Consensus Estimate of 51 cents.
Strong results were aided by year over year increase in revenues.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q2, the company delivered positive surprises in all the four trailing quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 6.85% in the trailing four quarters, prior to this earning.
Revenue Almost In-Line
CBRE Group posted revenues of $3.21 billion, almost in-line with the Zacks Consensus Estimate. Revenues were much higher than the year-ago number of $2.39 billion.
Key Developments to Note
Amid uncertainty, CBRE’s performance during the quarter has been marked by robust growth in occupier outsourcing and mortgage services.
CBRE has revised down the expected 2016 adjusted earnings per share range for the rest of the year to $2.15–$2.30 from the earlier guidance of $2.27–$2.37. This was, per Bob Sulentic, the company’s president and chief executive officer, “due principally to the impact of Brexit on UK property transaction volumes, and less visibility around the timing of the realization of certain incentives in our global investment management and development services businesses.”
CBRE GROUP INC Price and EPS Surprise
CBRE GROUP INC Price and EPS Surprise | CBRE GROUP INC Quote
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #4 (Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this CBRE Group earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>