Analyst Consensus ?
ConsensusBuy20 ratings
Bullish1365.0%
Neutral630.0%
Bearish15.0%
CBRE Group, Inc. · CBRE · FY2026 Q3 · Calendar Q4 2026
CBRE: Infrastructure Growth Offsets Capital-Markets Headwinds
CBRE’s Q3 analysis supports an infrastructure-led growth story: critical infrastructure and data-center demand, development-asset monetization, and M&A are positioned to offset pressure in rate-sensitive capital-markets businesses. The key test is whether those growth engines can support management’s 2027 EPS-growth ambition while facilities contracts and transaction activity remain pressured.
Reported Before market openNYSEReal Estate
$39.07B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.96
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $11.81B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-2.5%
Event window
SPY move
-1.3%
Same window
Abnormal move
-1.2%
Stock minus SPY
Volume
0.4×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
CBRESPY benchmark
Ask FN2 about CBRE FY2026 Q3
Transcript, numbers and history already loaded
What drove CBRE's -2.5% move after FY2026 Q3 earnings?What changed in CBRE's guidance and outlook in FY2026 Q3?Give me the bull and bear case for CBRE after FY2026 Q3 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 maintained 2026 core EPS guidance rather than raising it, while highlighting 80% year-over-year growth in Critical Infrastructure Services and a $4.5 billion 2027 revenue target for that business. The Onnec acquisition adds to the infrastructure M&A agenda, while higher rates continue to weigh on capital-markets activity.
Guidance delta
2026 core EPS guidance was maintained at $7.80-$7.90; management discussed 15% EPS growth for 2027.
Key takeaways
- Core EPS grew 28% and revenue grew 13% year over year, according to the transcript analysis.
- Critical Infrastructure Services revenue surged 80% year over year in Q3.
- Management is targeting $4.5 billion of Critical Infrastructure Services revenue in 2027 and $7 billion for total infrastructure and data-center services.
- Higher rates are pressuring capital-markets activity, while M&A remains a priority, including the Onnec transaction.
Management priorities
- Scale Critical Infrastructure Services.
- Complete the Onnec acquisition by year-end.
- Pursue additional data-center and infrastructure M&A.
- Monetize development assets, including data-center land sales.
- Maintain focus on infrastructure services while navigating capital-markets headwinds.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$130.41Current
$107Low
$150.7Average
$185High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 22, 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 |
|---|---|---|---|---|
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 9, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Sep 28, 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 $130.41. 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 | +40.3% | Aug 17, 2026 |
| Evercore ISI | Analyst unavailable | $175 | $147.52 | +34.2% | Jul 30, 2026 |
| Barclays | Analyst unavailable | $180 | $143.88 | +38.0% | Jul 28, 2026 |
| Evercore ISI | Analyst unavailable | $169 | $136.05 | +29.6% | Jun 30, 2026 |
| Barclays | Analyst unavailable | $178 | $140.05 | +36.5% | May 5, 2026 |
| Evercore ISI | Analyst unavailable | $179 | $148.55 | +37.3% | Apr 24, 2026 |
| Barclays | Analyst unavailable | $175 | $145.94 | +34.2% | Apr 14, 2026 |
| UBS | Analyst unavailable | $185 | $147.01 | +41.9% | Feb 22, 2026 |
| Raymond James | Patrick O\'Shaughnessy | $180 | $133.87 | +38.0% | Feb 12, 2026 |
| Barclays | Analyst unavailable | $192 | $164.25 | +47.2% | Jan 13, 2026 |
| UBS | Analyst unavailable | $175 | $164.2 | +34.2% | Oct 24, 2025 |
| UBS | Alex Kramm | $165 | $152.46 | +26.5% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $185 | $164.98 | +41.9% | Aug 25, 2025 |
| Raymond James | Patrick O'Shaughnessy | $152 | $141.02 | +16.6% | Jan 24, 2025 |
| Evercore ISI | Steve Sakawa | $132 | $120.84 | +1.2% | Oct 4, 2024 |
| CFRA | Catherine Seifert | $115 | $111.22 | -11.8% | Jul 29, 2024 |
| Evercore ISI | Steve Sakawa | $123 | $109.37 | -5.7% | Jul 26, 2024 |
| Raymond James | Patrick O'Shaughnessy | $124 | $106.92 | -4.9% | Jul 25, 2024 |
| UBS | Alex Kramm | $95 | $87.08 | -27.2% | Jul 3, 2024 |
| Jefferies | Peter Abramowitz | $107 | $96.2 | -18.0% | Apr 10, 2024 |
| Evercore ISI | Steve Sakawa | $104 | $94.98 | -20.3% | Apr 2, 2024 |
| Raymond James | Analyst unavailable | $113 | $83.27 | -13.4% | Aug 5, 2022 |
| Raymond James | Analyst unavailable | $111 | $83.92 | -14.9% | 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 |
|---|---|---|---|---|
| CCI Crown Castle Inc. | FY2026 Q3 · Calendar Q4 2026 | -2.5% | -3.1% | Crown Castle raises 2026 guidance as transformation advances |
| ELS Equity LifeStyle Properties, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | -4.4% | ELS Q3 2026: Guidance Held as Occupancy and Membership Trends Stay Firm |
| NLY-PF Annaly Capital Management, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.6% | — | Annaly prioritizes residential credit amid rate volatility |
| NLY-PG Annaly Capital Management, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.6% | — | Annaly prioritizes residential credit amid volatile fixed-income markets |
| NLY Annaly Capital Management, Inc. | FY2026 Q3 · Calendar Q4 2026 | +3.6% | -0.6% | Annaly’s earnings held above its dividend despite a difficult quarter |
Latest beats and misses
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- TXNFY2026 Q3 · October 21, 2026+7.4% EPS+2.5% move
- SEICFY2026 Q3 · October 21, 2026+3.8% EPS+1.2% move
- CSXFY2026 Q3 · October 21, 2026+7.3% EPS+0.7% 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 · 2026-10-22T15:05:15.365862+00:00
- FN2 earnings calendar · 2026-10-22T01:23:13.354406+00:00
- Polygon adjusted daily market bars · 2026-10-22T15:10:45.272802+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-22T15:10:45.270665+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 2026-10-22. For educational purposes only; not investment advice.