Stock Monitor: HFF, Inc. Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 12, 2018 / Active-Investors.com has just released a free earnings report on CBRE Group, Inc. (NYSE: CBG) ("CBRE"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CBG. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 08, 2018. The real estate investment management services provider's revenues and earnings for FY17 reached all-time highs, while 2017 marked the 8th consecutive year of double-digit adjusted earnings per share (EPS) growth for the Company. Register today and get access to over 1000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for HFF, Inc. (NYSE: HF), which also belongs to the Financial sector as the Company CBRE Group. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/'symbol=HF
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, CBRE Group most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=CBG
Earnings Highlights and Summary
For the fourth quarter of the fiscal year 2017, CBRE's revenues totaled $4.34 billion, reflecting an increase of 13% compared to $3.82 billion in Q4 2016. The Company's fee revenues increased 11% to $2.95 billion in the reported quarter compared to $2.66 billion in the year ago same period. CBRE's revenue numbers topped analysts' estimates of $4.11 billion.
For Q4 2017, CBRE's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 10% to $577.8 million on a y-o-y basis, and its adjusted EBITDA increased 2% to $582.2 million. The Company's adjusted EBITDA margin on fee revenues decreased 170 basis points to 19.7%.
On a GAAP basis, CBRE's net income totaled $168.40 million, or $0.49 per share, in Q4 2017 compared to $263.98 million, or $0.78 per share, in Q4 2016.
CBRE's adjusted net income rose 6% to $0.99 per share in Q4 2017. The Company's adjustments to GAAP net income included a $0.42 per share net charge attributable to the impacts of the Tax Act, as well as a $30.4 million (pre-tax) of non-cash acquisition-related amortization, and a $4.4 million (pre-tax) of net carried interest incentive compensation expense, partially offset by a net tax benefit of $8.7 million associated with the pre-tax adjustments. CBRE's earnings beat Wall Street's estimates of $0.93 per share.
For the full year FY17, CBRE's revenues totaled $14.21 billion, reflecting an increase of 9% compared to $13.07 billion in FY16.
On a GAAP basis, CBRE's net income was $691.48 million, or $2.03 per share, in FY17 compared to $571.97 million, or $1.71 per share, in FY16. The Company's adjusted net income rose 19% to $924.5 million, while its adjusted earnings per share improved 18% to $2.71.
Segment Results
During Q4 2017, CBRE's Americas segment's revenues increased 11% to $2.34 billion on a y-o-y basis, with a strong growth in Canada, Mexico, and the United States. The Company's Asia/Pacific (APAC) segment's revenues saw a 13% jump to $526.60 million on a y-o-y basis, supported by a solid growth across the region, most notably in Australia, India, Japan, and Singapore. CBRE's Europe, Middle-East, and Africa (EMEA) segment's revenues rose 17% to $1.33 billion on a y-o-y basis, driven by Spain and the United Kingdom.
For Q4 2017, CBRE's Leasing segment's revenues rose by 13% on a y-o-y basis. APAC produced a leasing revenue growth of 17%, paced by Australia, Greater China, and Japan. The Americas leasing revenues rose 12%, with a strong performance in Brazil, Canada, and the United States. EMEA leasing revenues rose 12%, led by France.
During Q4 2017, CBRE's growing Loan Servicing Portfolio's recurring revenues increased 31%. At the end of the reported quarter, the Loan Servicing Portfolio totaled approximately $174 billion, up 20% from the year end of 2016. The Company's Property Management Services produced a growth of 14% for revenues and 16% for fee revenues.
CBRE's Global Investment Management segment produced revenues of $103.19 million, up 12% on a y-o-y basis. In the segment, assets under management (AUM) totaled $103.2 billion, up $4.9 billion from Q3 2017.
In the Development Services segment, projects in process totaled $6.8 billion at the end of Q4 2017, up almost $1.0 billion from Q3 2017. The pipeline decreased $1.6 billion during the reported quarter, reflecting a higher-than-normal conversion of pipeline deals to in process activity.
Outlook
For the full year FY18, CBRE is forecasting to achieve adjusted earnings per share in the range of $3.00 to $3.15. This represents an increase of 13% at the midpoint of the range, with 8% attributable to EBITDA growth, and 5% attributable to the combined net effect of a lower expected tax rate.
Stock Performance Snapshot
March 09, 2018 - At Friday's closing bell, CBRE Group's stock climbed 1.30%, ending the trading session at $47.59.
Volume traded for the day: 2.19 million shares.
Stock performance in the last month - up 11.87%; previous three-month period - up 9.28%; past twelve-month period - up 32.16%; and year-to-date - up 9.88%
After last Friday's close, CBRE Group's market cap was at $16.12 billion.
Price to Earnings (P/E) ratio was at 19.44.
The stock is part of the Financial sector, categorized under the Property Management industry. This sector was up 1.8% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
