Colliers International Group (NASDAQ:CIGI) Issues Earnings Results, Beats Estimates By $0.20 EPS

Key Points

• Colliers International Group reported earnings of $1.72 per share, exceeding expectations of $1.52, alongside a revenue of $1.37 billion, which was also higher than the estimated $1.29 billion.
• The firm declared a semi-annual dividend of $0.15 per share, marking a yield of 20.0% with a payout ratio of 13.64%.
• Analysts have mixed ratings on the stock, with a price target range of $142.00 to $180.00, and an overall average rating of "Moderate Buy" based on recent evaluations.

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

Colliers International Group Stock Down 0.4%

CIGI traded down $0.61 on Wednesday, hitting $156.05. The company had a trading volume of 52,673 shares, compared to its average volume of 132,500. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group has a 52-week low of $100.86 and a 52-week high of $158.21. The stock has a fifty day simple moving average of $133.48 and a 200-day simple moving average of $127.88. The firm has a market capitalization of $7.72 billion, a P/E ratio of 70.80 and a beta of 1.44.

Colliers International Group Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CIGI. National Bankshares upped their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus upped their price target on shares of Colliers International Group from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Scotiabank upped their price target on shares of Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. Finally, JMP Securities began coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating for the company. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $168.40.

Institutional Trading of Colliers International Group

An institutional investor recently raised its position in Colliers International Group stock. Goldman Sachs Group Inc. raised its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 78.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,415 shares of the financial services provider's stock after purchasing an additional 56,755 shares during the period. Goldman Sachs Group Inc. owned 0.26% of Colliers International Group worth $15,698,000 as of its most recent SEC filing. Institutional investors and hedge funds own 80.09% of the company's stock.

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.