Commercial real estate firm CBRE (NYSE: CBRE) will be reporting results this Thursday before market hours. Here’s what investors should know.
CBRE met analysts’ revenue expectations last quarter, reporting revenues of $11.23 billion, up 15.5% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
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 15.3% year on year, improving from the 13.6% 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 Q3 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 7.9%, and Levi's reported revenues up 4.3%, in line with consensus estimates. Levi's traded down 2.4% following the results.
Read our full analysis of Hasbro’s results here and Levi’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. CBRE is down 6.2% during the same time and is heading into earnings with an average analyst price target of $178.75 (compared to the current share price of $134.39).
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