We uploaded our research report on CBRE Group, Inc. (NYSE:CBG) on May 20, 2016.
Last month, this Los Angeles-based commercial real estate services and investment firm reported first-quarter 2016 adjusted earnings of 36 cents per share, beating the Zacks Consensus Estimate of 33 cents and ahead of the prior-year tally of 32 cents. A rise in revenues in each of the company’s three global regions aided the results.
Revenues came in at $2.85 billion, up 39% year over year. But, it missed the Zacks Consensus Estimate of $2.93 billion.
Strategic in-fill acquisitions play a key role in expanding the geographic coverage and boosting its service offerings. During 2015, CBRE completed eight in-fill acquisitions. In the first quarter 2016, the company inked a deal to acquire an affiliate in Norway which was closed in Apr 2016. Most recently, CBRE Group has entered into a deal to buy a 49% stake in Malaysia’s real estate services provider – C H Williams Talhar & Wong Sdn Bhd, WTW Real Estate Sdn Bhd and WTW Property Services Sdn Bhd. We believe these acquisitions would serve as growth drivers, supplementing the company’s organic growth.
Competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.
Over the past seven days, the Zacks Consensus Estimate for 2016 rose from $2.33 to $2.35. However, for 2017, the Zacks Consensus Estimate declined from $2.57 to $2.56. The stock presently has a Zacks Rank #3 (Hold).
However, investors interested in the real estate space can consider stocks like Brookfield Asset Management Inc. (NYSE:BAM) , FirstService Corporation (NASDAQ:FSV) and HFF, Inc. (NYSE:HF) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
BROOKFIELD ASST (BAM): Free Stock Analysis Report
CBRE GROUP INC (CBG): Free Stock Analysis Report
HFF INC-A (HF): Free Stock Analysis Report
FIRSTSERVICE CP (FSV): Free Stock Analysis Report
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Zacks Investment Research
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CBRE Group Continues Acquisition Drive: Time To Hold?
Published 05/23/2016, 07:49 AM
Updated 07/09/2023, 06:31 AM
CBRE Group Continues Acquisition Drive: Time To Hold?
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