Colliers International Group Inc. (CIGI) Downgraded by Zacks Investment Research
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 assumed coverage on shares of Colliers International Group in a research report on Wednesday, June 22nd. They set an outperform rating on the stock.
Shares of Colliers International Group (NASDAQ:CIGI) opened at 41.87 on Tuesday. The stock has a market capitalization of $1.62 billion, a P/E ratio of 28.03 and a beta of 1.48. Colliers International Group has a one year low of $30.76 and a one year high of $50.72. The firm’s 50-day moving average price is $42.43 and its 200-day moving average price is $39.08.
Colliers International Group (NASDAQ:CIGI) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The firm had revenue of $482.50 million for the quarter, compared to analyst estimates of $434.82 million. Colliers International Group had a net margin of 3.14% and a return on equity of 31.57%. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities research analysts anticipate that Colliers International Group will post $2.52 EPS for the current fiscal year.
In related news, major shareholder Spruce House Partnership Lp bought 120,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $41.62 per share, with a total value of $4,994,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 15.30% of the company’s stock.
Several large investors have recently modified their holdings of CIGI. 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 worth $106,000 after buying an additional 1,100 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 worth $849,000 after buying an additional 1,635 shares during the period. Geode Capital Management LLC raised its stake in shares of Colliers International Group by 14.3% in the first quarter. Geode Capital Management LLC now owns 15,065 shares of the company’s stock worth $570,000 after buying an additional 1,885 shares during the period. 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 worth $123,000 after buying an additional 2,108 shares during the period. Finally, 1st Global Advisors Inc. raised its stake in shares of Colliers International Group by 28.2% in the second quarter. 1st Global Advisors Inc. now owns 9,585 shares of the company’s stock worth $327,000 after buying an additional 2,109 shares during the period. 61.90% of the stock is owned by institutional investors.
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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