Todays Report: The Colliers International Group Inc. Forecasted to Earn Q3 2016 Earnings of $0.53 Per Share (CIGI)

The Colliers International Group Inc. Forecasted to Earn Q3 2016 Earnings of $0.53 Per Share (CIGI)

Colliers International Group Inc. (NASDAQ:CIGI) – William Blair decreased their Q3 2016 EPS estimates for shares of Colliers International Group in a research note issued to investors on Sunday. William Blair analyst B. Dobell now expects that the firm will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.54.

CIGI has been the topic of a number of other reports. Zacks Investment Research upgraded Colliers International Group from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, August 16th. Royal Bank Of Canada began coverage on Colliers International Group in a research note on Wednesday, June 22nd. They issued an “outperform” rating on the stock. Finally, Scotiabank restated an “outperform” rating and issued a $59.00 price target on shares of Colliers International Group in a research note on Tuesday, October 4th.

Shares of Colliers International Group (NASDAQ:CIGI) opened at 41.10 on Tuesday. The firm has a 50 day moving average price of $42.00 and a 200-day moving average price of $39.52. The firm has a market capitalization of $1.59 billion, a P/E ratio of 27.51 and a beta of 1.35. Colliers International Group has a 52 week low of $30.76 and a 52 week high of $50.72.

Colliers International Group (NASDAQ:CIGI) last issued its earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. Colliers International Group had a return on equity of 31.57% and a net margin of 3.14%. The business earned $482.50 million during the quarter, compared to the consensus estimate of $434.82 million. Colliers International Group’s revenue for the quarter was up 17.7% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in 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 increased its stake in 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 Colliers International Group during the second quarter worth approximately $214,000. Parametric Portfolio Associates LLC purchased a new stake in Colliers International Group during the second quarter worth approximately $214,000. Finally, A.R.T. Advisors LLC purchased a new stake in Colliers International Group during the second quarter worth approximately $262,000. Institutional investors own 61.90% of the company’s stock.

In other news, major shareholder Spruce House Partnership Lp bought 133,800 shares of the firm’s stock in a transaction on Tuesday, October 4th. The shares were bought at an average cost of $42.05 per share, for a total transaction of $5,626,290.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.30% of the company’s stock.

Colliers International Group Company Profile

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