Can CBRE Group Inc (NYSE:CBG) Maintain the Trend?

[EDGAR] CBRE Group Inc (NYSE:CBG)(TREND ANALYSIS) the Company, CBRE Services, Inc., a subsidiary of the Company (“Services”), certain subsidiaries of Services, the lenders party thereto, and Credit Suisse AG (“Credit Suisse”), as Administrative Agent, entered into an Incremental Assumption Agreement (the “Incremental Agreement”) in connection with the Second Amended and Restated Credit Agreement, dated as of January 9, 2015 (as amended, the “Credit Agreement”), among the Company, Services, certain subsidiaries of Services, the lenders party thereto and Credit Suisse. The Incremental Agreement provides Services with two new tranches of term loans, in an aggregate principal amount of $400 million (together, the “Incremental Term Loans”). A $270 million Incremental Tranche B-1 Term Loan (the “Tranche B-1 Term Loan”) matures in five years and has an initial interest rate of LIBOR+115 basis points, or approximately 1.35% currently. A $130 million Incremental Tranche B-2 Term Loan (the “Tranche B-2 Term Loan”) matures in seven years and has an initial interest rate of LIBOR+160 basis points, or approximately 1.80% currently. The Tranche B-1 Term Loan is pre-payable at any time without penalty and the Tranche B-2 Term Loan is pre-payable at any time without penalty after September 3, 2017.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

CBRE Group Inc (NYSE:CBG) stock is currently trading 18.23% below its 52-week-high, 18.3% above its 52-week-low. The 1-year stock price history is in the range of $27.49 – $39.77. CBRE Group Inc (CBG) has a price to earnings ratio of 20.6 versus Financial sector average of 15.98. CBG stock price has outperformed the S&P 500 by 0.2%. The Real Estate Management & Services company is currently valued at $10.8 billion and its share price closed the last trading session at $32.52. The stock has a 50-day moving average of $35.6 and a 200-day moving average of $36.83.

CBRE Group Inc (CBG) current short interest stands at 3.72 million shares. It has increased by 11% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.96 million shares, the number of days required to cover the short positions stand at 1.3 days.

The company is expected to announce next quarter earnings on November 04, at consensus estimate of $0.45. CBRE Group Inc (CBG) reported last quarter earnings on July 29. The Real Estate Management & Services company announced earnings per share of $0.42 against a consensus Street estimate of $0.41, beating the average estimate by $0.01. This corresponds to an increase of $0.05 compared to the same quarter of the previous fiscal year.

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There are currently eight analysts that cover CBRE Group Inc stock. Of those eight, eight have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $42.71.

A recent analyst activity consisted of Barclays reiterating their Overweight stance on September 3. Barclays increased their price target on CBG from $41 to $43. This corresponds to a 32.23% upside from the last closing price. On the date of report, the stock closed at $32.78.

Sterne Agee CRT initiated their coverage on the stock with Buy rating on August 26, and fixed their price target at $42. This corresponds to a 29.15% upside from the last closing price. On the date of report, the stock closed at $32.15.

Another research firm was JMP Securities who reiterated their Market Outperform stance on April 1. JMP Securities increased their price target on CBRE Group Inc from $37 to $42. This translates to a 29.15% upside from the last closing price. On the date of report, the stock closed at $38.83.

Company profile

CBRE Group, Inc. is a global commercial real estate services firm. The Company offers a range of services to occupiers, owners, lenders, and investors in office, retail, industrial, multi-family, and other commercial real estate assets. CBRE offers services such as advice and execution assistance for property leasing and sales, forecasting, and valuations.

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