Yahoo Finance Earnings To Watch: CBRE (CBRE) Reports Q2 Results Tomorrow
Commercial real estate firm CBRE (NYSE:CBRE) will be reporting earnings tomorrow morning. Here's what you need to know.
CBRE met analysts' revenue expectations last quarter, reporting revenues of $7.94 billion, up 7.1% year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates and a miss of analysts' Advisory Services revenue estimates.
Is CBRE a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting CBRE's revenue to grow 7.5% year on year to $8.30 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. CBRE has missed Wall Street's revenue estimates twice over the last two years.
Looking at CBRE's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.8% on average over the last month. CBRE is up 12.3% during the same time and is heading into earnings with an average analyst price target of $103.1 (compared to the current share price of $99.16).
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