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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s share price dropped 6.8% during trading on Thursday following a dissappointing earnings announcement. The company traded as low as $134.89 and last traded at $136.00. Approximately 13,520 shares changed hands during mid-day 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 return on equity of 21.78% and a net margin of 3.38%.

Colliers International Group Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s dividend payout ratio is 9.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CIGI. Scotiabank decreased 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 note on Tuesday, January 28th. Raymond James boosted their price objective on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Royal Bank of Canada increased their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. The Goldman Sachs Group began coverage on Colliers International Group in a research report on Friday, December 6th. They issued a “neutral” rating and a $170.00 price objective for the company. Finally, National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Four investment 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 company. Based on data from MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIGI. Franklin Resources Inc. grew its position in Colliers International Group by 100.8% during the third quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after buying an additional 340,691 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Colliers International Group by 3.4% in the fourth quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider’s stock worth $85,143,000 after buying an additional 20,794 shares in the last quarter. Janus Henderson Group PLC bought a new position in Colliers International Group in the 3rd quarter valued at $69,920,000. Loomis Sayles & Co. L P boosted its stake in Colliers International Group by 55.5% during the third quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock valued at $54,461,000 after buying an additional 128,005 shares during the period. Finally, Cibc World Market Inc. boosted its position in shares of Colliers International Group by 3.9% during the 4th quarter. Cibc World Market Inc. now owns 219,317 shares of the financial services provider’s stock valued at $29,814,000 after acquiring an additional 8,148 shares during the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Trading Down 8.5 %

The firm has a market cap of $6.58 billion, a PE ratio of 42.54 and a beta of 1.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s 50 day simple moving average is $140.95 and its 200 day simple moving average is $143.49.

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.