Commercial real estate firm CBRE (NYSE: CBRE) will be reporting earnings this Wednesday morning. Here’s what investors should know.
CBRE beat analysts’ revenue expectations last quarter, reporting revenues of $10.53 billion, up 18.6% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and full-year EPS guidance topping analysts’ expectations.
Is CBRE a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CBRE’s revenue to grow 15.6% year on year, in line with the 16.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. CBRE has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at CBRE’s peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Forestar Group delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 7.7%, and AMC Entertainment reported revenues up 14.2%, topping estimates by 8.7%. Forestar Group traded down 2.8% following the results while AMC Entertainment was up 13.4%.
Read our full analysis of Forestar Group’s results here and AMC Entertainment’s results here.
Over the last year or so, investors' attention has moved from one major market theme to the next, spanning AI disruption and surging infrastructure investment to geopolitical tensions, interest rates, and the health of the broader economy. While some of the consumer discretionary stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2% on average over the last month. CBRE is up 5.4% during the same time and is heading into earnings with an average analyst price target of $176.08 (compared to the current share price of $143.41).
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