Colliers International Group Inc. Forecasted to Post FY2016 Earnings of $2.45 Per Share (CIGI)
Colliers International Group Inc. (NASDAQ:CIGI) – Equities researchers at William Blair lowered their FY2016 earnings per share estimates for shares of Colliers International Group in a research report issued on Sunday. William Blair analyst B. Dobell now forecasts that the firm will earn $2.45 per share for the year, down from their prior estimate of $2.46. William Blair also issued estimates for Colliers International Group’s FY2017 earnings at $2.82 EPS.
A number of other equities analysts also recently issued reports on CIGI. Royal Bank Of Canada started coverage on shares of Colliers International Group in a report on Wednesday, June 15th. They issued an “outperform” rating and a $52.00 price objective on the stock. Zacks Investment Research downgraded shares of Colliers International Group from a “hold” rating to a “sell” rating in a report on Friday, July 1st. Finally, Scotiabank reissued an “outperform” rating and issued a $59.00 price objective on shares of Colliers International Group in a report on Tuesday, October 4th.
Colliers International Group (NASDAQ:CIGI) traded down 2.39% during trading on Wednesday, reaching $40.86. 21,960 shares of the company’s stock were exchanged. Colliers International Group has a 12-month low of $30.76 and a 12-month high of $50.72. The stock’s 50-day moving average is $42.07 and its 200-day moving average is $39.51. The company has a market cap of $1.58 billion, a P/E ratio of 27.35 and a beta of 1.35.
Colliers International Group (NASDAQ:CIGI) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.08. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. The business earned $482.50 million during the quarter, compared to analysts’ expectations of $434.82 million. The company’s quarterly revenue was up 17.7% on a year-over-year basis.
In other news, major shareholder Spruce House Partnership Lp bought 133,800 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were bought at an average price of $42.05 per share, for a total transaction of $5,626,290.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 15.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in CIGI. Tobam boosted its stake in Colliers International Group by 16.9% in the second quarter. Tobam now owns 115,645 shares of the company’s stock valued at $3,929,000 after buying an additional 16,700 shares during the last quarter. Royal Bank of Canada boosted its stake in Colliers International Group by 56.8% in the second quarter. Royal Bank of Canada now owns 858,184 shares of the company’s stock valued at $29,298,000 after buying an additional 310,828 shares during the last quarter. Legal & General Group Plc boosted its stake in Colliers International Group by 57.4% in the second quarter. Legal & General Group Plc now owns 4,389 shares of the company’s stock valued at $149,000 after buying an additional 1,600 shares during the last quarter. Toronto Dominion Bank boosted its stake in Colliers International Group by 24.3% in the second quarter. Toronto Dominion Bank now owns 41,770 shares of the company’s stock valued at $1,427,000 after buying an additional 8,165 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Colliers International Group during the second quarter valued at about $290,000. Hedge funds and other institutional investors own 61.90% 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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