Colliers International Group (NASDAQ:CIGI) Posts 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 for the quarter, topping the consensus estimate of $1.52 by $0.20, Briefing.com reports. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.29 billion. Colliers International Group had a return on equity of 21.13% and a net margin of 2.17%. The business's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $1.36 earnings per share.

Colliers International Group Stock Up 0.9%

Shares of CIGI stock traded up $1.39 during trading hours on Monday, reaching $152.22. 9,509 shares of the company's stock were exchanged, compared to its average volume of 131,803. Colliers International Group has a 1 year low of $100.86 and a 1 year high of $156.96. The stock has a market cap of $7.53 billion, a PE ratio of 69.19 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock's fifty day moving average price is $132.10 and its two-hundred day moving average price is $127.58.

Colliers International Group Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on CIGI shares. National Bankshares lifted their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a report on Friday. Citizens Jmp started coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. JMP Securities started coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Stifel Nicolaus lifted their price objective on Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Six equities research 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $168.40.

Institutional Investors Weigh In On 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 lifted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.1% during the first quarter, according to its most recent disclosure with the SEC. The fund 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 approximately 0.09% of Colliers International Group worth $5,508,000 at the end of the most recent quarter. 80.09% of the stock is currently owned by institutional investors.

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.