Real estate services firm, CBRE Group Inc. (CBG) is riding on the growth trajectory. The company, currently a Zacks Rank #2 (Buy) holder, has a broad range of real estate products and services, along with an extensive knowledge of domestic and international real estate markets that enable it to operate as a single-source provider of real estate solutions.
Late July, CBRE came up with second-quarter 2014 adjusted earnings of 36 cents per share, a penny ahead of the Zacks Consensus Estimate and up 16% year over year. Results were driven by solid growth in leasing, particularly in the U.S. Based on a sound performance in the first half of this year, the company has raised its adjusted earnings per share expectation by 5 cents from the initial outlook.
Going forward, we expect the company to benefit from improvement in leasing, property sales and outsourcing business, going forward. Moreover, strategic buyouts have played a vital role in enhancing CBRE’s geographic coverage as well as broadening its service offerings.
To capitalize on the growing opportunities in the Pacific region and add strength to its corporate real estate services platform, CBRE has acquired Australian firm Paragon Project Management Pty Ltd. CBRE Group also declared the acquisition of CBRE | Louisville, a commercial real estate services firm serving as its affiliate in metropolitan Louisville, Kentucky and southern Indiana since 1996.%