Colliers International Group (NASDAQ:CIGI) Releases Quarterly Earnings Results, Misses Estimates By $0.23 EPS

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) released its quarterly earnings data on Tuesday. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.59 by ($0.23), Zacks reports. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.

Colliers International Group Price Performance

Colliers International Group stock traded down $2.82 during mid-day trading on Tuesday, hitting $155.88. The company’s stock had a trading volume of 78,705 shares, compared to its average volume of 130,578. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $7.73 billion, a P/E ratio of 70.89 and a beta of 1.44. Colliers International Group has a twelve month low of $100.86 and a twelve month high of $171.51. The stock’s fifty day moving average price is $160.84 and its two-hundred day moving average price is $143.32.

Analysts Set New Price Targets

Several brokerages have commented on CIGI. Scotiabank raised their price target on shares of Colliers International Group from $170.00 to $185.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. National Bankshares raised their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. CIBC raised their price target on shares of Colliers International Group from $175.00 to $179.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. JMP Securities began coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating on the stock. Finally, Raymond James Financial raised their price target on shares of Colliers International Group from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Colliers International Group presently has an average rating of “Moderate Buy” and an average target price of $175.70.

Institutional Investors Weigh In On Colliers International Group

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in Colliers International Group during the 2nd quarter worth about $39,000. EverSource Wealth Advisors LLC boosted its stake in shares of Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after buying an additional 63 shares during the period. Tower Research Capital LLC TRC acquired a new stake in shares of Colliers International Group during the 2nd quarter valued at $96,000. Marshall Wace LLP boosted its stake in shares of Colliers International Group by 7.4% during the 2nd quarter. Marshall Wace LLP now owns 2,900 shares of the financial services provider’s stock valued at $379,000 after buying an additional 200 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Colliers International Group by 190.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock valued at $1,055,000 after purchasing an additional 5,286 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.