Earnings Preview For CB Richard Ellis Group (CBG)

CB Richard Ellis Group CBG is expected to announce its Q1 earnings results on Monday, April 26, after the markets close. Analysts are expecting earnings per share to be $0.12. This is a massive increase from last year's level of only $0.01. Analysts have upgraded their earnings per share expectations by $0.01 in the past seven days. CB Richard Ellis Group is a Los Angeles-based commercial real estate services firm with full-service operations in major metropolitan areas worldwide. The company offers a range of services to occupiers, owners, lenders and investors in office, retail, industrial, multi-family and other types of commercial real estate. It generates revenues from contractual management fees and on a per project or transactional basis. The Company operates through five segments: Americas, Europe, Middle East and Africa (EMEA), Asia Pacific, and Global Investment Management and Development Services. In February 2011, ING Groep N.V. divested its real estate investment operation ING Real Estate Investment Management to CB Richard Ellis. The company announced last Thursday the appointment of Asieh Mansour as Head of Americas Research and Senior Managing Director of Global Research and Consulting. Ms. Mansour's new responsibilities will include directing its Americas-based commercial real estate market analysts, advising the Americas leadership and professionals on economic issues, serving as a key spokesperson on the commercial real estate environment and working closely with her CBRE research colleagues around the world. She was previously CB Richard Ellis' leading real estate economist with more than 20 years of experience at this position. Markets seemed to welcome the news as CB Richard Ellis's shares reached a one-year high of $29.28 following the news, up 68% over a year. Investors will be hoping strong quarterly earnings results will provide another push for its shares. Analysts are predicting earnings per share to be only one third of CBG's Q4 2010 value, at which point the company posted $0.34. It seems to be a temporary drawback, however, as its earnings per share is expected to rebound to $0.23 in the next quarter.