William Blair Weighs in on Colliers International Group Inc’s FY2018 Earnings (CIGI)

Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) – William Blair upped their FY2018 earnings estimates for Colliers International Group in a report released on Wednesday, October 31st. William Blair analyst S. Sheldon now anticipates that the financial services provider will post earnings per share of $2.50 for the year, up from their prior estimate of $2.30. William Blair also issued estimates for Colliers International Group’s Q4 2018 earnings at $1.37 EPS, FY2019 earnings at $3.00 EPS and FY2020 earnings at $3.19 EPS.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, October 30th. The financial services provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.60. Colliers International Group had a net margin of 2.96% and a return on equity of 31.08%. The company had revenue of $715.70 million for the quarter, compared to the consensus estimate of $698.53 million. During the same period in the previous year, the firm earned $0.66 earnings per share. Colliers International Group’s quarterly revenue was up 15.7% compared to the same quarter last year.

CIGI has been the topic of a number of other reports. Royal Bank of Canada reduced their target price on shares of Colliers International Group from $89.00 to $87.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 31st. BidaskClub downgraded shares of Colliers International Group from a “sell” rating to a “strong sell” rating in a research note on Friday, October 12th. ValuEngine downgraded shares of Colliers International Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating and set a $78.00 target price on the stock in a research note on Monday. Finally, Raymond James set a $85.00 target price on shares of Colliers International Group and gave the stock a “buy” rating in a research note on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $83.33.

Shares of CIGI stock opened at $68.39 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 2.38. Colliers International Group has a 12 month low of $46.60 and a 12 month high of $84.20. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 22.65 and a beta of 1.49.

A number of hedge funds have recently modified their holdings of the business. Greystone Managed Investments Inc. purchased a new stake in shares of Colliers International Group in the 2nd quarter valued at approximately $17,672,000. American Century Companies Inc. purchased a new stake in shares of Colliers International Group in the 2nd quarter valued at approximately $12,835,000. PCJ Investment Counsel Ltd. purchased a new stake in shares of Colliers International Group in the 2nd quarter valued at approximately $7,640,000. Fenimore Asset Management Inc. purchased a new stake in shares of Colliers International Group in the 2nd quarter valued at approximately $7,528,000. Finally, Fiera Capital Corp raised its stake in shares of Colliers International Group by 17.3% in the 2nd quarter. Fiera Capital Corp now owns 486,564 shares of the financial services provider’s stock valued at $37,022,000 after acquiring an additional 71,821 shares during the period. 70.21% of the stock is currently owned by institutional investors.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.

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