Colliers International Group (NASDAQ:CIGI) Issues Quarterly Earnings Results

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 posted 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 firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.29 billion. Colliers International Group had a return on equity of 21.13% and a net margin of 2.17%. The company's revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share.

Colliers International Group Stock Performance

NASDAQ CIGI traded up $0.12 during trading on Friday, reaching $150.83. 173,444 shares of the company's stock were exchanged, compared to its average volume of 140,265. The business has a 50 day moving average price of $132.10 and a 200-day moving average price of $127.70. The stock has a market capitalization of $7.46 billion, a P/E ratio of 68.56 and a beta of 1.39. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17. Colliers International Group has a fifty-two week low of $100.86 and a fifty-two week high of $156.96.

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 given a dividend of $0.15 per share. This represents a yield of 20.0%. The ex-dividend date of this dividend was Monday, June 30th. Colliers International Group's payout ratio is 13.64%.

Analyst Upgrades and Downgrades

CIGI has been the topic of a number of research reports. 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 report on Friday. Citizens Jmp initiated coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating on the stock. JPMorgan Chase & Co. cut their price target on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Scotiabank boosted their price target on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a report on Friday. Finally, CIBC boosted their price target on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $168.40.

Hedge Funds 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 boosted its holdings in shares of Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,408 shares of the financial services provider's stock after buying an additional 505 shares during the quarter. 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 reporting period. 80.09% of the stock is owned by hedge funds and other 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.

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