2024-07-26 11:37:45 ET
Summary
- CBRE's Q2 2024 EBITDA and EPS beat the sell-side analysts' consensus forecasts by +9.9% and +14.3%, respectively.
- The company raised its full-year bottom-line guidance by +7.9%, and the updated outlook implies a +25.0% increase in its earnings for 2024.
- I stick with a Buy rating for CBRE, as the stock could command a higher P/E multiple in view of its 2024 earnings outlook and its historical EPS growth numbers.
My investment rating for CBRE Group, Inc. ( CBRE ) stock is a Buy. I am impressed with the company for delivering a beat-and-raise quarter in Q2. The stock has the potential to trade at a higher P/E multiple, taking into consideration its bottom-line guidance this year and its historical earnings growth track record. As such, I have a positive view of the stock....
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CBRE: Staying Positive With Beat-And-Raise Quarter