Colliers International Group (NASDAQ:CIGI) Announces Quarterly Earnings Results

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) announced its earnings results on Tuesday. The financial services provider reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.23), Morningstar.com reports. The firm had revenue of $745.50 million during the quarter, compared to analyst estimates of $750.85 million. Colliers International Group had a net margin of 3.24% and a return on equity of 25.61%. Colliers International Group’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share.

Shares of NASDAQ CIGI traded up $0.21 during midday trading on Wednesday, reaching $72.90. The company had a trading volume of 4,732 shares, compared to its average volume of 53,595. The company’s 50-day moving average is $72.07. The company has a market cap of $2.79 billion, a PE ratio of 29.72 and a beta of 1.50. Colliers International Group has a 1 year low of $52.01 and a 1 year high of $84.20. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.03 and a current ratio of 1.03.

The business also recently declared a semiannual dividend, which was paid on Tuesday, July 9th. Shareholders of record on Friday, June 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a dividend yield of 0.16%. Colliers International Group’s dividend payout ratio is currently 4.08%.

Several brokerages have weighed in on CIGI. BidaskClub downgraded shares of Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday, July 17th. Raymond James set a $19.00 price target on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a report on Friday, July 12th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. Finally, Royal Bank of Canada set a €145.00 ($168.60) price target on shares of Aena SME and gave the stock a “sell” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Colliers International Group has an average rating of “Buy” and an average price target of $77.67.

Several hedge funds and other institutional investors have recently bought and sold shares of CIGI. Norges Bank purchased a new position in shares of Colliers International Group in the fourth quarter worth $24,103,000. Pembroke Management LTD raised its holdings in shares of Colliers International Group by 101.3% in the first quarter. Pembroke Management LTD now owns 465,200 shares of the financial services provider’s stock worth $41,528,000 after buying an additional 234,050 shares during the last quarter. Waratah Capital Advisors Ltd. raised its holdings in shares of Colliers International Group by 23.0% in the second quarter. Waratah Capital Advisors Ltd. now owns 505,099 shares of the financial services provider’s stock worth $36,137,000 after buying an additional 94,365 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Colliers International Group by 229.5% in the fourth quarter. APG Asset Management N.V. now owns 119,600 shares of the financial services provider’s stock worth $5,767,000 after buying an additional 83,300 shares during the last quarter. Finally, CIBC World Markets Inc. raised its holdings in shares of Colliers International Group by 37.0% in the first quarter. CIBC World Markets Inc. now owns 257,978 shares of the financial services provider’s stock worth $17,223,000 after buying an additional 69,655 shares during the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

Further Reading: Inflation

Earnings History for Colliers International Group (NASDAQ:CIGI)

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