Earnings Preview: CB Richard Ellis Group

CB Richard Ellis Group (CBG), the commercial real estate services firm, is expected to report Q2 earnings after market close Tuesday, July 29  with a conference call scheduled for Wednesday, July 30 at 10:30 am ET.

Guidance

Analysts are looking for EPS of 44c on revenue of $1.42B. The consensus range for EPS is 36c to 51c, while the consensus range for revenue is $1.22B to $1.51B, according to First Call.

Analyst Views

Lehman Brothers recently initiated coverage of CB Richard Ellis with an Equal Weight rating. Goldman Sachs last month upgraded the company to Neutral from Sell, citing valuation.

In recent weeks, two large companies announced that they had chosen CB Richard Ellis to assist them with real estate matters. Citigroup (C) selected the company to act as one of its preferred real estate advisors for its Europe, Africa, and Middle East regions. Dr. Pepper Snapple Group (DPG) chose CB Richard Ellis to provide transaction management and lease administration services throughout the Americas.