Why CBRE (CBRE) Stock Is Up Today

What Happened?

Shares of commercial real estate firm CBRE (NYSE:CBRE) jumped 9.7% in the morning session after the company reported third-quarter earnings results, which blew past analysts' Workplace Solutions revenue expectations. Its EBITDA also outperformed Wall Street's estimates. Overall, we think this was a decent quarter, with some key metrics above expectations.

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What The Market Is Telling Us

CBRE’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. 

The biggest move we wrote about over the last year was 3 months ago when the stock gained 12.1% on the news that the company reported second-quarter earnings results. CBRE beat analysts' revenue expectations. The top line benefited from meaningful contributions from all major operating segments. Its EPS also outperformed Wall Street's estimates. Overall, we think this was a really good quarter that should please shareholders.

CBRE is up 44.9% since the beginning of the year, and at $135.04 per share, has set a new 52-week high. Investors who bought $1,000 worth of CBRE’s shares 5 years ago would now be looking at an investment worth $2,575.

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