Have you been eager to see how CBRE Group, Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real estate operation firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings per share of 43 cents, beating the Zacks Consensus Estimate of 33 cents.
Better-than-expected growth in revenues was primarily responsible for this beat.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q1, the company delivered positive surprises in all the four trailing quarters, as shown in the chart below.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.2% in the trailing four quarters.
Revenue Came Higher Than Expected
CBRE Group posted revenues of around $2.98 billion, which beat the Zacks Consensus Estimate of $2.96 billion. Also, revenues were higher than the year-ago number of $2.85 billion.
Key Developments to Note
CBRE Group’s largest business segment – The Americas – reported revenue growth of 7% (same in local currency), while Asia Pacific experienced revenue expansion of 10% (9% local currency). However, revenue growth in Europe, the Middle East & Africa (EMEA) was unfavorably affected by foreign currency movement. As a result, although EMEA revenue rose 9% in local currency, it was flat after conversion to the U.S. dollars.
The company did not update full year guidance this time.
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #3 (Hold). 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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this CBRE Group earnings report later!
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CBRE Group (CBG) Beats Q1 Earnings and Revenues Estimates
Have you been eager to see how CBRE Group, Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Los Angeles, CA-based, real estate operation firm’s earnings release this morning:
An Earnings Beat
CBRE Group came out with adjusted earnings per share of 43 cents, beating the Zacks Consensus Estimate of 33 cents.
Better-than-expected growth in revenues was primarily responsible for this beat.
How Was the Earnings Surprise Trend?
CBRE Group has a decent earnings surprise history. Before posting an earnings beat in Q1, the company delivered positive surprises in all the four trailing quarters, as shown in the chart below.
CBRE Group, Inc. Price and EPS Surprise
CBRE Group, Inc. Price and EPS Surprise | CBRE Group, Inc. Quote
Overall, the company surpassed the Zacks Consensus Estimate by an average of 8.2% in the trailing four quarters.
Revenue Came Higher Than Expected
CBRE Group posted revenues of around $2.98 billion, which beat the Zacks Consensus Estimate of $2.96 billion. Also, revenues were higher than the year-ago number of $2.85 billion.
Key Developments to Note
CBRE Group’s largest business segment – The Americas – reported revenue growth of 7% (same in local currency), while Asia Pacific experienced revenue expansion of 10% (9% local currency). However, revenue growth in Europe, the Middle East & Africa (EMEA) was unfavorably affected by foreign currency movement. As a result, although EMEA revenue rose 9% in local currency, it was flat after conversion to the U.S. dollars.
The company did not update full year guidance this time.
What Zacks Rank Says
CBRE Group currently has a Zacks Rank #3 (Hold). 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. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this CBRE Group earnings report later!
Looking for Ideas with Even Greater Upside?
Most of Zacks’ investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more.
Click here for a peek at this private information>>