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Stock Alert: CBRE Slips

Shares of commercial real estate services and investment firm CBRE Group, Inc. (CBRE) are trading lower, as its fourth-quarter earnings missed analysts' estimates.

The company reported a net profit of $638 million or $1.87 per share, higher than $394 million or $1.15 per share last year. On an adjusted basis, earnings were $1.32. Wall Street was looking for $1.35 per share.

Revenue for the quarter climbed 13.1 percent to $7.119 billion from $6.294 billion a year ago. Analysts were looking for revenue of $6.91 billion.

Looking ahead, CBRE expects adjusted earnings-per-share of $4.05 to $4.25. The company expects growth to be stronger in the second half than the first half of 2020.

The stock is currently trading at $56.28, down 1.41 percent. For the 52-week period, the shares have traded in a range of $45.16 to $64.75.

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