Colliers International Group (NASDAQ:CIGI) Trading Down 6.8% Following Weak Earnings

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) were down 6.8% during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $134.89 and last traded at $136.00. Approximately 13,520 shares traded hands during trading, a decline of 85% from the average daily volume of 92,830 shares. The stock had previously closed at $145.92.

The financial services provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%.

Colliers International Group Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were paid a $0.15 dividend. This represents a yield of 0.2%. The ex-dividend date was Tuesday, December 31st. Colliers International Group’s payout ratio is currently 9.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CIGI shares. JPMorgan Chase & Co. started coverage on shares of Colliers International Group in a report on Monday, December 16th. They set a “neutral” rating and a $167.00 price target on the stock. Raymond James increased their target price on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Scotiabank reduced their price target on Colliers International Group from $172.50 to $170.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group began coverage on shares of Colliers International Group in a research report on Friday, December 6th. They set a “neutral” rating and a $170.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CIGI. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Colliers International Group by 26.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 124 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of Colliers International Group during the third quarter worth about $112,000. Tobam grew its holdings in shares of Colliers International Group by 12.0% during the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock worth $124,000 after buying an additional 98 shares during the last quarter. Blue Trust Inc. increased its position in Colliers International Group by 197.8% in the 3rd quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 619 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Colliers International Group during the 4th quarter valued at approximately $145,000. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Trading Down 6.8 %

The company has a 50 day simple moving average of $140.61 and a 200 day simple moving average of $143.44. The stock has a market capitalization of $6.71 billion, a PE ratio of 43.33 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group Company Profile

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.