Colliers International Group Inc. (CIGI) Downgraded to “Sell” at Zacks Investment Research
Colliers International Group Inc. (NASDAQ:CIGI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “
Several other equities research analysts have also recently weighed in on the company. Scotiabank reiterated an “outperform” rating and set a $59.00 price target on shares of Colliers International Group in a research report on Tuesday, October 4th. Royal Bank Of Canada assumed coverage on Colliers International Group in a report on Wednesday, June 22nd. They set an “outperform” rating for the company.
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Colliers International Group (NASDAQ:CIGI) traded down 1.82% on Wednesday, reaching $41.10. 39,085 shares of the company’s stock traded hands. The firm has a market cap of $1.59 billion, a PE ratio of 27.51 and a beta of 1.35. Colliers International Group has a 12 month low of $30.76 and a 12 month high of $50.72. The firm’s 50-day moving average is $42.07 and its 200 day moving average is $39.51.
Colliers International Group (NASDAQ:CIGI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $482.50 million for the quarter, compared to analysts’ expectations of $434.82 million. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. Equities analysts predict that Colliers International Group will post $2.51 EPS for the current year.
In other news, major shareholder Spruce House Partnership Lp bought 120,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average price of $41.62 per share, with a total value of $4,994,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.30% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Colliers International Group by 65.1% in the first quarter. Legal & General Group Plc now owns 2,789 shares of the company’s stock valued at $106,000 after buying an additional 1,100 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Colliers International Group by 141.9% in the second quarter. Acrospire Investment Management LLC now owns 3,594 shares of the company’s stock valued at $123,000 after buying an additional 2,108 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new stake in shares of Colliers International Group during the second quarter valued at about $214,000. Quadrature Capital Ltd purchased a new stake in shares of Colliers International Group during the second quarter valued at about $214,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Colliers International Group during the second quarter valued at about $262,000. 61.90% of the stock is owned by institutional investors and hedge funds.
About Colliers International Group
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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