Zacks Investment Research cut shares of Colliers International Group Inc. (NASDAQ:CIGI) from a hold rating to a sell rating in a report released on Wednesday morning.
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 “
A number of other research analysts have also weighed in on CIGI. Royal Bank Of Canada initiated coverage on Colliers International Group in a report on Wednesday, June 15th. They issued an outperform rating and a $52.00 price objective on the stock. Scotiabank restated an outperform rating and issued a $59.00 target price on shares of Colliers International Group in a research note on Tuesday, October 4th.
Colliers International Group (NASDAQ:CIGI) traded down 0.58% during mid-day trading on Wednesday, hitting $40.86. The stock had a trading volume of 937 shares. The stock’s 50-day moving average price is $42.00 and its 200-day moving average price is $39.52. Colliers International Group has a 12 month low of $30.76 and a 12 month high of $50.72. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 27.35 and a beta of 1.35.
Colliers International Group (NASDAQ:CIGI) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $482.50 million for the quarter, compared to analyst estimates of $434.82 million. Colliers International Group had a return on equity of 31.57% and a net margin of 3.14%. Colliers International Group’s quarterly revenue was up 17.7% compared to the same quarter last year. On average, analysts predict that Colliers International Group will post $2.51 earnings per share for the current year.
In related news, major shareholder Spruce House Partnership Lp purchased 133,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was purchased at an average price of $42.05 per share, with a total value of $5,626,290.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.30% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted 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 last quarter. Acrospire Investment Management LLC boosted 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 last quarter. Quadrature Capital Ltd purchased a new stake in shares of Colliers International Group during the second quarter worth $214,000. Parametric Portfolio Associates LLC purchased a new stake in shares of Colliers International Group during the second quarter worth $214,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Colliers International Group during the second quarter worth $262,000. 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.