Colliers International Group Inc. (CIGI) Earns Outperform Rating from Scotiabank
Scotiabank reiterated their outperform rating on shares of Colliers International Group Inc. (NASDAQ:CIGI) in a report released on Tuesday morning. They currently have a $59.00 price objective on the stock.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada began coverage on Colliers International Group in a research report on Wednesday, June 22nd. They set an outperform rating for the company. Zacks Investment Research downgraded Colliers International Group from a buy rating to a hold rating in a research report on Tuesday, September 27th.
Colliers International Group (NASDAQ:CIGI) traded up 0.029% on Tuesday, reaching $42.082. The company had a trading volume of 1,395 shares. Colliers International Group has a 12 month low of $30.76 and a 12 month high of $50.72. The firm has a 50-day moving average of $42.20 and a 200-day moving average of $39.34. The stock has a market capitalization of $1.62 billion, a P/E ratio of 28.167 and a beta of 1.35.
Colliers International Group (NASDAQ:CIGI) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.08. The firm earned $482.50 million during the quarter, compared to analysts’ expectations of $434.82 million. Colliers International Group had a return on equity of 31.57% and a net margin of 3.14%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. On average, equities research analysts expect that Colliers International Group will post $2.51 earnings per share for the current fiscal year.
In other Colliers International Group news, major shareholder Spruce House Partnership Lp acquired 120,000 shares of the stock in a transaction dated 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.30% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the stock. BloombergSen Inc. increased its stake in shares of Colliers International Group by 50.8% in the second quarter. BloombergSen Inc. now owns 1,615,628 shares of the company’s stock worth $55,158,000 after buying an additional 544,128 shares in the last quarter. Royal Bank of Canada increased its stake in Colliers International Group by 602.8% in the first quarter. Royal Bank of Canada now owns 547,356 shares of the company’s stock worth $20,723,000 after buying an additional 469,471 shares during the period. Bank of Montreal Can purchased a new stake in Colliers International Group during the second quarter worth about $15,480,000. Mackenzie Financial Corp purchased a new stake in Colliers International Group during the second quarter worth about $5,754,000. Finally, Spruce House Investment Management LLC increased its stake in Colliers International Group by 3.9% in the second quarter. Spruce House Investment Management LLC now owns 3,466,340 shares of the company’s stock worth $118,334,000 after buying an additional 130,700 shares during the period. 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.
Receive News & Ratings for Colliers International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.