Earnings Preview: CB Richard Ellis

CB Richard Ellis Group (CBG) is expected to report Q3 earnings Thursday after the close with a conference call scheduled for 10:30 am on Friday, November 7.

Guidance

Analysts are looking for EPS of 23c on revenue of $1.18B. The consensus range for EPS is 15c to 40c, while the consensus range for revenue is $956.88M to $1.31B, according to First Call.

Analyst Views

JMP Securities downgraded the company to Market Perform from Outperform in September because the firm thought that the turbulence in financial markets had worsened the outlook for the commercial real estate sector.

On the other hand, William Blair upgraded the company to Outperform from Market Perform recently. Meanwhile, CBRE Realty announced yesterday that it would cease to be an indirect subsidiary of CB Richard Ellis as of December 31, 2008.