Colliers International Group Inc. Forecasted to Post FY2016 Earnings of $2.45 Per Share (CIGI)
Colliers International Group Inc. (NASDAQ:CIGI) – Stock analysts at William Blair reduced their FY2016 EPS estimates for Colliers International Group in a research note issued on Sunday. William Blair analyst B. Dobell now anticipates that the firm will post earnings per share of $2.45 for the year, down from their previous forecast of $2.46. William Blair also issued estimates for Colliers International Group’s FY2017 earnings at $2.82 EPS.
Other equities analysts have also issued reports about the company. Royal Bank Of Canada began coverage on Colliers International Group in a research note on Wednesday, June 22nd. They set an “outperform” rating for the company. Zacks Investment Research raised Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Tuesday, August 16th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $59.00 price target on shares of Colliers International Group in a research note on Tuesday, October 4th.
Shares of Colliers International Group (NASDAQ:CIGI) traded down 2.39% during midday trading on Wednesday, reaching $40.86. The company’s stock had a trading volume of 21,960 shares. The stock has a market capitalization of $1.58 billion, a PE ratio of 27.35 and a beta of 1.35. The stock has a 50-day moving average price of $42.07 and a 200 day moving average price of $39.51. Colliers International Group has a 52 week low of $30.76 and a 52 week high of $50.72.
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Colliers International Group (NASDAQ:CIGI) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The company earned $482.50 million during the quarter, compared to analyst estimates of $434.82 million. Colliers International Group had a return on equity of 31.57% and a net margin of 3.14%. Colliers International Group’s quarterly revenue was up 17.7% compared to the same quarter last year.
In related news, major shareholder Spruce House Partnership Lp acquired 133,800 shares of Colliers International Group stock in a transaction dated Tuesday, October 4th. The stock was acquired at an average cost of $42.05 per share, with a total value of $5,626,290.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 15.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc boosted 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 during the period. Acrospire Investment Management LLC boosted 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 during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Colliers International Group during the second quarter valued at approximately $214,000. Quadrature Capital Ltd acquired a new stake in shares of Colliers International Group during the second quarter valued at approximately $214,000. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Colliers International Group during the second quarter valued at approximately $262,000. 61.90% of the stock is owned by institutional investors and hedge funds.
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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