Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16, Morningstar.com reports. The business had revenue of $544.20 million during the quarter, compared to analyst estimates of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share.
Colliers International Group (NASDAQ CIGI) opened at 49.20 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 29.73 and a beta of 1.73. Colliers International Group has a 12 month low of $34.20 and a 12 month high of $60.75. The company’s 50-day moving average is $53.99 and its 200 day moving average is $50.30.
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of Colliers International Group by 60.3% in the first quarter. Tower Research Capital LLC TRC now owns 3,485 shares of the financial services provider’s stock valued at $165,000 after buying an additional 1,311 shares during the last quarter. State of Tennessee Treasury Department acquired a new position in shares of Colliers International Group during the second quarter valued at $201,000. FMR LLC acquired a new position in shares of Colliers International Group during the second quarter valued at $208,000. JPMorgan Chase & Co. acquired a new position in shares of Colliers International Group during the first quarter valued at $230,000. Finally, Atria Investments LLC acquired a new position in shares of Colliers International Group during the second quarter valued at $230,000. Institutional investors and hedge funds own 59.59% of the company’s stock.
A number of equities analysts have recently weighed in on CIGI shares. BidaskClub raised shares of Colliers International Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Scotiabank cut their price objective on shares of Colliers International Group from $76.00 to $75.50 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. TheStreet lowered shares of Colliers International Group from a “b” rating to a “c+” rating in a research report on Tuesday, May 2nd. Zacks Investment Research raised shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Colliers International Group from $57.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. Colliers International Group presently has an average rating of “Buy” and an average target price of $65.70.
Colliers International Group declared that its Board of Directors has approved a stock repurchase program on Thursday, July 13th that authorizes the company to buyback 2,700,000 shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Colliers International Group Company Profile
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.
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