Q3 2016 EPS Estimates for Colliers International Group Inc. Lowered by Analyst (CIGI)
Colliers International Group Inc. (NASDAQ:CIGI) – Research analysts at William Blair reduced their Q3 2016 earnings estimates for Colliers International Group in a report issued on Sunday. William Blair analyst B. Dobell now expects that the firm will post earnings of $0.53 per share for the quarter, down from their previous forecast of $0.54.
Colliers International Group (NASDAQ:CIGI) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. Colliers International Group had a return on equity of 31.57% and a net margin of 3.14%. The company had revenue of $482.50 million for the quarter, compared to analysts’ expectations of $434.82 million. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis.
Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada began coverage on shares of Colliers International Group in a report on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Tuesday, August 16th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $59.00 target price on shares of Colliers International Group in a report on Tuesday, October 4th.
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Shares of Colliers International Group (NASDAQ:CIGI) traded up 0.80% during trading on Tuesday, hitting $41.64. The stock had a trading volume of 12,971 shares. The stock’s 50 day moving average is $42.10 and its 200 day moving average is $39.49. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 27.87 and a beta of 1.35. Colliers International Group has a 52 week low of $30.76 and a 52 week high of $50.72.
Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can purchased a new stake in Colliers International Group during the second quarter valued at about $15,480,000. CIBC World Markets Inc. raised its stake in Colliers International Group by 67.7% in the second quarter. CIBC World Markets Inc. now owns 252,750 shares of the company’s stock valued at $8,629,000 after buying an additional 102,020 shares in the last quarter. 1st Global Advisors Inc. raised its stake in Colliers International Group by 28.2% in the second quarter. 1st Global Advisors Inc. now owns 9,585 shares of the company’s stock valued at $327,000 after buying an additional 2,109 shares in the last quarter. Van Berkom & Associates Inc. raised its stake in Colliers International Group by 4.9% in the second quarter. Van Berkom & Associates Inc. now owns 1,318,213 shares of the company’s stock valued at $44,707,000 after buying an additional 62,000 shares in the last quarter. Finally, Fulton Bank N.A. purchased a new stake in Colliers International Group during the second quarter valued at about $416,000. Institutional investors and hedge funds own 61.90% of the company’s stock.
In other news, major shareholder Spruce House Partnership Lp purchased 120,000 shares of Colliers International Group stock in a transaction that occurred on Thursday, September 15th. The shares were acquired at an average price of $41.62 per share, for a total transaction of $4,994,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 15.30% of the company’s stock.
Colliers International Group Company Profile
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company’s primary services are outsourcing and advisory services, lease brokerage and sales brokerage. The Company’s segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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