Commercial real estate firm CBRE (NYSE: CBRE) will be reporting earnings this Tuesday before market hours. Here’s what investors should know.
CBRE beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $8.91 billion, up 12.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.
Is CBRE a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting CBRE’s revenue to grow 11.4% year on year to $9.35 billion, improving from the 8.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CBRE has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.7% on average.
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. Hasbro’s revenues decreased 1.5% year on year, beating analysts’ expectations by 11.2%, and Levi's reported revenues up 6.4%, topping estimates by 5.8%. Hasbro traded down 3.3% following the results while Levi's was up 11.1%.
Read our full analysis of Hasbro’s results here and Levi’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 10.3% on average over the last month. CBRE is up 5.2% during the same time and is heading into earnings with an average analyst price target of $149.93 (compared to the current share price of $147.43).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
