Colliers International Group (NASDAQ:CIGI) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS

Key Points

• Colliers International Group reported earnings of $1.72 EPS, surpassing analyst estimates of $1.52 by $0.20, with revenues of $1.37 billion for the quarter, an 18.3% increase year-over-year.
• The company announced a semi-annual dividend of $0.15 per share, representing a 20.0% dividend yield, with a payout ratio of 13.64%.
• Analysts have given Colliers International Group a consensus rating of "Moderate Buy" with an average target price of $168.40.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI released its earnings results on Thursday. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.20, Briefing.com reports. Colliers International Group had a return on equity of 17.09% and a net margin of 2.17%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. Colliers International Group's revenue was up 18.3% on a year-over-year basis.

Colliers International Group Trading Down 0.6%

Colliers International Group stock traded down $0.88 during trading hours on Wednesday, reaching $155.79. 50,845 shares of the company's stock were exchanged, compared to its average volume of 132,461. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $133.48 and its 200 day simple moving average is $127.88. Colliers International Group has a twelve month low of $100.86 and a twelve month high of $158.21. The firm has a market capitalization of $7.71 billion, a PE ratio of 70.81 and a beta of 1.44.

Colliers International Group Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Monday, July 14th. Shareholders of record on Monday, June 30th were issued a dividend of $0.15 per share. This represents a yield of 20.0%. The ex-dividend date was Monday, June 30th. Colliers International Group's dividend payout ratio (DPR) is presently 13.64%.

Institutional Trading of Colliers International Group

A hedge fund recently raised its stake in Colliers International Group stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,408 shares of the financial services provider's stock after acquiring an additional 505 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.09% of Colliers International Group worth $5,508,000 as of its most recent SEC filing. 80.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CIGI. Royal Bank Of Canada boosted their price target on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. decreased their target price on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Citizens Jmp began coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating on the stock. National Bankshares upped their target price on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus boosted their price target on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average price target of $168.40.

About Colliers International Group

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.