CBRE GROUP (US), a company active in the Real Estate Holding & Development industry, slightly increases its general evaluation. The independent financial analyst theScreener just confirmed the stock market behaviour of the title as moderately risky. At the fundamental level, theScreener confirms the rating of 1 out of 4 stars; given the more favourable environment, the title's overall rating is upgraded to Neutral even if it remains under pressure. As of the analysis date March 18, 2022, the clo...
Risk-Off Signals Abating In our last Compass (Dec. 22), we pointed out that despite conflicting signals (some neutral or healthy signals but some risk-off signals as well), our bottom line is that we could not be bearish as long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495. These support levels have held strong, and we are now seeing the aforementioned risk-off signals starting to abate. This is an encouragin...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
After taking a fresh look at the real estate services industry, we are downgrading our moat ratings for CBRE and Jones Lang LaSalle from wide to narrow. We still believe these companies have robust competitive advantages because of their reputation-based intangible assets and switching costs, but we are no longer confident that excess returns will persist for 20 years. Both companies operate in a cyclical industry that is rapidly consolidating, raising the prospect that they will compete more di...
CBRE has overseen a boom in the commercial real estate services industry since the nadir of the real-estate-driven financial crisis of 2007. As the largest player in the space by market cap, CBRE has benefited disproportionately from various tailwinds that have underpinned its impressive run of growth. Key to this success has been the company’s industry-leading brand reputation and a platform that melds complementary business lines in areas such as property sales, outsourcing, and leasing to s...
After taking a fresh look at the real estate services industry, we are downgrading our moat ratings for CBRE and Jones Lang LaSalle from wide to narrow. We still believe these companies have robust competitive advantages because of their reputation-based intangible assets and switching costs, but we are no longer confident that excess returns will persist for 20 years. Both companies operate in a cyclical industry that is rapidly consolidating, raising the prospect that they will compete more di...
CBRE started 2019 well, with fee revenue increasing 7% and adjusted EBITDA increasing nearly 30%. The results feature many of the same themes that emerged from first-quarter results of competitor JLL, with a buoyant leasing environment driving growth being offset slightly by weakness in capital markets. The healthy results underscore fading macroeconomic concerns that were particularly salient toward the end of 2018. Nevertheless, we continue to expect that the current economic upturn will event...
CBRE started 2019 well, with fee revenue increasing 7% and adjusted EBITDA increasing nearly 30%. The results feature many of the same themes that emerged from first-quarter results of competitor JLL, with a buoyant leasing environment driving growth being offset slightly by weakness in capital markets. The healthy results underscore fading macroeconomic concerns that were particularly salient toward the end of 2018. Nevertheless, we continue to expect that the current economic upturn will event...
CBRE started 2019 well, with fee revenue increasing 7% and adjusted EBITDA increasing nearly 30%. The results feature many of the same themes that emerged from first-quarter results of competitor JLL, with a buoyant leasing environment driving growth being offset slightly by weakness in capital markets. The healthy results underscore fading macroeconomic concerns that were particularly salient toward the end of 2018. Nevertheless, we continue to expect that the current economic upturn will event...
CBRE achieved impressive adjusted EPS growth of 20% and revenue growth of 15% as it concludes an outstanding 2018. Despite the turmoil and negative sentiment that prevailed the toward the end of the year, the company’s fourth-quarter results showed an acceleration in economic activity. Fourth-quarter adjusted EPS increased 26% from a year earlier and fee revenue was up 16%. These results were underpinned by particular strength in occupier outsourcing and leasing, which grew 19% and 24%, respec...
CBRE achieved impressive adjusted EPS growth of 20% and revenue growth of 15% as it concludes an outstanding 2018. Despite the turmoil and negative sentiment that prevailed the toward the end of the year, the company’s fourth-quarter results showed an acceleration in economic activity. Fourth-quarter adjusted EPS increased 26% from a year earlier and fee revenue was up 16%. These results were underpinned by particular strength in occupier outsourcing and leasing, which grew 19% and 24%, respec...
CBRE achieved impressive adjusted EPS growth of 20% and revenue growth of 15% as it concludes an outstanding 2018. Despite the turmoil and negative sentiment that prevailed the toward the end of the year, the company’s fourth-quarter results showed an acceleration in economic activity. Fourth-quarter adjusted EPS increased 26% from a year earlier and fee revenue was up 16%. These results were underpinned by particular strength in occupier outsourcing and leasing, which grew 19% and 24%, respec...
CBRE's management believes that its 2018 adjusted EPS will be near the high end of its $3.10-$3.20 guidance range, and it's currently discounting the effect of higher interest rates and trade tensions on its business. CBRE has continued to report strong results despite increasingly negative market sentiment. For the first nine months of 2018, revenue increased 15% to $15 billion while organic fee revenue growth was 12%. Adjusted earnings per diluted share also increased 16% to $2.06 for the nine...
CBRE's management believes that its 2018 adjusted EPS will be near the high end of its $3.10-$3.20 guidance range, and it's currently discounting the effect of higher interest rates and trade tensions on its business. CBRE has continued to report strong results despite increasingly negative market sentiment. For the first nine months of 2018, revenue increased 15% to $15 billion while organic fee revenue growth was 12%. Adjusted earnings per diluted share also increased 16% to $2.06 for the nine...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
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