Colliers International Group Inc. (NASDAQ:CIGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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 began 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 for the company.
Shares of Colliers International Group (NASDAQ:CIGI) opened at 41.91 on Tuesday. Colliers International Group has a 52 week low of $30.76 and a 52 week high of $50.72. The firm has a market capitalization of $1.62 billion, a PE ratio of 28.05 and a beta of 1.48. The company has a 50-day moving average of $42.48 and a 200-day moving average of $39.06.
Colliers International Group (NASDAQ:CIGI) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The firm earned $482.50 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 17.7% on a year-over-year basis. On average, equities analysts forecast that Colliers International Group will post $2.52 earnings per share for the current fiscal year.
In other news, major shareholder Spruce House Partnership Lp purchased 266,288 shares of Colliers International Group stock in a transaction dated Friday, July 8th. The stock was bought at an average price of $34.60 per share, with a total value of $9,213,564.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.30% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Spruce House Investment Management LLC increased its position in shares of 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 valued at $118,334,000 after buying an additional 130,700 shares during the period. BloombergSen Inc. boosted 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. Van Berkom & Associates Inc. boosted its stake in shares of Colliers International Group by 4.9% in the second quarter. Van Berkom & Associates Inc. now owns 1,318,213 shares of the company’s stock worth $44,707,000 after buying an additional 62,000 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Colliers International Group by 56.8% in the second quarter. Royal Bank of Canada now owns 858,184 shares of the company’s stock worth $29,298,000 after buying an additional 310,828 shares in the last quarter. Finally, Greystone Managed Investments Inc. boosted its stake in shares of Colliers International Group by 4.2% in the second quarter. Greystone Managed Investments Inc. now owns 829,404 shares of the company’s stock worth $28,176,000 after buying an additional 33,231 shares in the last quarter. 61.90% of the stock is owned by institutional investors.
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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