Colliers International Group Inc. (CIGI) Downgraded by Zacks Investment Research to Hold
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 “
Separately, Royal Bank Of Canada started coverage on Colliers International Group in a report on Wednesday, June 15th. They set an outperform rating and a $52.00 price objective on the stock.
Shares of Colliers International Group (NASDAQ:CIGI) opened at 41.05 on Tuesday. The company’s 50 day moving average price is $42.54 and its 200-day moving average price is $39.04. Colliers International Group has a 12 month low of $30.76 and a 12 month high of $50.72. The firm has a market capitalization of $1.58 billion, a P/E ratio of 27.48 and a beta of 1.48.
Colliers International Group (NASDAQ:CIGI) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ 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 analyst estimates of $434.82 million. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, equities analysts predict that Colliers International Group will post $2.52 earnings per share for the current fiscal year.
In related news, major shareholder Spruce House Partnership Lp acquired 120,000 shares of Colliers International Group stock in a transaction dated Thursday, September 15th. The shares were acquired at an average cost of $41.62 per share, for a total transaction of $4,994,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc increased its position in 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. BlackRock Institutional Trust Company N.A. increased its position in Colliers International Group by 7.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 22,415 shares of the company’s stock valued at $849,000 after buying an additional 1,635 shares during the period. Geode Capital Management LLC increased its position in Colliers International Group by 14.3% in the first quarter. Geode Capital Management LLC now owns 15,065 shares of the company’s stock valued at $570,000 after buying an additional 1,885 shares during the period. Acrospire Investment Management LLC increased its position in 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. Finally, 1st Global Advisors Inc. increased its position 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 during the period. Institutional investors and hedge funds own 61.90% of the company’s stock.
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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