Colliers International Group (CIGI) Announces Quarterly Earnings Results

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) posted its quarterly earnings results on Wednesday. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.18, Morningstar.com reports. The business had revenue of $734.25 million during the quarter, compared to analyst estimates of $648.86 million. Colliers International Group had a return on equity of 41.41% and a net margin of 2.81%. The business’s revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 earnings per share.

Colliers International Group (CIGI) traded up $6.95 on Thursday, reaching $66.65. The company had a trading volume of 80,600 shares, compared to its average volume of 31,803. Colliers International Group has a 12-month low of $42.45 and a 12-month high of $68.95. The firm has a market capitalization of $2,320.96, a PE ratio of 43.56 and a beta of 1.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.48.

A number of research firms have recently issued reports on CIGI. William Blair restated an “outperform” rating on shares of Colliers International Group in a research report on Thursday, February 1st. Royal Bank of Canada upped their price target on Colliers International Group to $71.00 and gave the company an “outperform” rating in a research report on Thursday. BidaskClub lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. ValuEngine lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research lowered Colliers International Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $72.40.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new position in Colliers International Group in the fourth quarter valued at approximately $200,000. FMR LLC acquired a new position in Colliers International Group in the second quarter valued at approximately $208,000. Wetherby Asset Management Inc. acquired a new position in Colliers International Group in the fourth quarter valued at approximately $208,000. Cubist Systematic Strategies LLC acquired a new position in Colliers International Group in the third quarter valued at approximately $326,000. Finally, Legal & General Group Plc lifted its holdings in Colliers International Group by 43.6% in the third quarter. Legal & General Group Plc now owns 6,587 shares of the financial services provider’s stock valued at $326,000 after acquiring an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 67.56% of the company’s stock.

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About Colliers International Group

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

Earnings History for Colliers International Group (NASDAQ:CIGI)

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