Analyst Consensus ?
ConsensusBuy20 ratings
Bullish1365.0%
Neutral630.0%
Bearish15.0%
CBRE Group, Inc. · CBRE · FY2024 Q2 · Calendar Q3 2024
CBRE raises outlook as all three segments beat in Q2
The quarter supports a constructive operating trajectory: broad segment strength, improving GWS margins and higher guidance outweighed concerns around rates, office activity and execution. The key test is whether transaction activity and planned development sales convert into durable earnings.
Reported Before market openNYSEReal Estate
$35.53B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.81
Consensus $0.71
EPS surprise
+14.2%
Reported versus consensus
Reported revenue
$8.39B
Consensus $8.31B
Revenue surprise
+1.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+9.3%
Event window
SPY move
-0.5%
Same window
Abnormal move
+9.8%
Stock minus SPY
Volume
3.2×
Versus trailing sessions
Subsequent drift
+5.0%
Up to 20 sessions
CBRESPY benchmark
Ask FN2 about CBRE FY2024 Q2
Transcript, numbers and history already loaded
Why did CBRE rise 9.3% after beating EPS estimates in FY2024 Q2?What changed in CBRE's guidance and outlook in FY2024 Q2?Give me the bull and bear case for CBRE after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, management raised full-year core EPS guidance, reported stronger performance across all three segments, and emphasized a more active capital-investment and M&A program. GWS margin improvement and data-center and development opportunities became more prominent growth supports.
Guidance delta
Raised: full-year core EPS guidance moved to $4.70-$4.90 from the prior quarter's maintained $4.25-$4.65 range.
Key takeaways
- Management reported revenue and operating-profit beats across Advisory, GWS and REI.
- GWS margins reached 10.1% after cost actions, with further improvement expected.
- Management highlighted Turner & Townsend integration, data-center demand and development-asset sales as growth supports.
Management priorities
- Complete Turner & Townsend integration and pursue targeted facilities and project-management M&A.
- Invest in development projects and co-investments while harvesting embedded pipeline profit.
- Continue cost transformation and technology investment to support margin expansion.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$123.3Current
$107Low
$150.7Average
$185High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Evercore ISI Group | Outperform | Outperform | Maintain | Oct 23, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 17, 2026 |
| UBS | Buy | Buy | Maintain | Jul 30, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 7, 2025 |
| JP Morgan | Overweight | Overweight | Maintain | Aug 26, 2025 |
| Raymond James | Outperform | Outperform | Maintain | Jul 24, 2025 |
| Jefferies | Buy | Hold | Upgrade | Jan 2, 2025 |
| Citigroup | Buy | Buy | Maintain | Nov 25, 2024 |
| Goldman Sachs | Buy | Buy | Maintain | Apr 11, 2023 |
| Wolfe Research | Outperform | Outperform | Maintain | Mar 10, 2022 |
| CFRA | Sell | Hold | Downgrade | May 8, 2020 |
| Compass Point | Neutral | Neutral | Maintain | Jul 11, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Jan 3, 2019 |
| B of A Securities | Neutral | Buy | Downgrade | Jan 3, 2019 |
| JMP Securities | Market Perform | Market Outperform | Downgrade | Jan 24, 2018 |
| Wedbush | Outperform | Outperform | Maintain | Oct 6, 2016 |
| Keefe Bruyette & Woods | Perform | Market Perform | Maintain | May 16, 2016 |
| Sterne Agee CRT | Buy | Buy | Maintain | Aug 26, 2015 |
| S&P Capital IQ | Hold | Buy | Downgrade | Aug 1, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $123.3. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $183 | $152.83 | +48.4% | Aug 17, 2026 |
| Evercore ISI | Analyst unavailable | $175 | $147.52 | +41.9% | Jul 30, 2026 |
| Barclays | Analyst unavailable | $180 | $143.88 | +46.0% | Jul 28, 2026 |
| Evercore ISI | Analyst unavailable | $169 | $136.05 | +37.1% | Jun 30, 2026 |
| Barclays | Analyst unavailable | $178 | $140.05 | +44.4% | May 5, 2026 |
| Evercore ISI | Analyst unavailable | $179 | $148.55 | +45.2% | Apr 24, 2026 |
| Barclays | Analyst unavailable | $175 | $145.94 | +41.9% | Apr 14, 2026 |
| UBS | Analyst unavailable | $185 | $147.01 | +50.0% | Feb 22, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $180 | $133.87 | +46.0% | Feb 12, 2026 |
| Barclays | Analyst unavailable | $192 | $164.25 | +55.7% | Jan 13, 2026 |
| UBS | Analyst unavailable | $175 | $164.2 | +41.9% | Oct 24, 2025 |
| UBS | Alex Kramm | $165 | $152.46 | +33.8% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $185 | $164.98 | +50.0% | Aug 25, 2025 |
| Raymond James | Patrick O'Shaughnessy | $152 | $141.02 | +23.3% | Jan 24, 2025 |
| Evercore ISI | Steve Sakawa | $132 | $120.84 | +7.1% | Oct 4, 2024 |
| CFRA | Catherine Seifert | $115 | $111.22 | -6.7% | Jul 29, 2024 |
| Evercore ISI | Steve Sakawa | $123 | $109.37 | -0.2% | Jul 26, 2024 |
| Raymond James | Patrick O'Shaughnessy | $124 | $106.92 | +0.6% | Jul 25, 2024 |
| UBS | Alex Kramm | $95 | $87.08 | -23.0% | Jul 3, 2024 |
| Jefferies | Peter Abramowitz | $107 | $96.2 | -13.2% | Apr 10, 2024 |
| Evercore ISI | Steve Sakawa | $104 | $94.98 | -15.7% | Apr 2, 2024 |
| Raymond James | Analyst unavailable | $113 | $83.27 | -8.4% | Aug 5, 2022 |
| Raymond James | Analyst unavailable | $111 | $83.92 | -10.0% | Apr 26, 2022 |
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Start freeCompany context
Snapshot as of publicationCBRE Group, Inc. operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The company operates through Advisory Services, Building Operations and Experience, Project Management, and Real Estate Investments segments. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, lease administration, accounting, investment reporting services, financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services…
Historical context
All CBRE earningsReal Estate peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| RITM-PD Rithm Capital Corp. | FY2026 Q3 · Calendar Q4 2026 | +10.2% | — | Rithm highlights servicing, inflows and technology-led efficiency |
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
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- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the CBRE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
- Polygon adjusted daily market bars · 2026-10-25T15:40:42.731874+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T15:40:42.728938+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.