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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) dropped 6.8% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $134.89 and last traded at $136.00. Approximately 13,520 shares changed 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 earnings per share (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 company also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were given a $0.15 dividend. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group’s dividend payout ratio (DPR) is 9.55%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in Colliers International Group by 26.4% during 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 in the last quarter. Plato Investment Management Ltd bought a new position in Colliers International Group in the 3rd quarter worth approximately $112,000. Tobam grew its stake in Colliers International Group by 12.0% in the 4th quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after buying an additional 98 shares in the last quarter. Blue Trust Inc. raised its holdings in Colliers International Group by 197.8% during 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 shares of Colliers International Group during the fourth quarter worth $145,000. 80.09% of the stock is owned by institutional investors.

Colliers International Group Stock Down 6.8 %

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

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.