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

Shares of Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI were down 6.8% during trading on Thursday following a weaker than expected earnings announcement. The company 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.89%.

Colliers International Group Announces Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group's payout ratio is presently 9.40%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. BMO Capital Markets cut their price objective on Colliers International Group from $177.00 to $172.00 and set a "market perform" rating on the stock in a research note on Friday. National Bank Financial raised shares of Colliers International Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. started coverage on shares of Colliers International Group in a research note on Monday, December 16th. They set a "neutral" rating and a $167.00 target price for the company. Scotiabank cut their price target on shares of Colliers International Group from $170.00 to $166.00 and set a "sector outperform" rating on the stock in a research report on Friday. Finally, Royal Bank of Canada upped their target price on Colliers International Group from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $168.63.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently modified their holdings of the company. Aviso Financial Inc. raised its holdings in Colliers International Group by 6.6% during the fourth quarter. Aviso Financial Inc. now owns 31,448 shares of the financial services provider's stock worth $4,276,000 after buying an additional 1,951 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Colliers International Group by 13.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 183,400 shares of the financial services provider's stock worth $24,909,000 after acquiring an additional 21,600 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Colliers International Group by 2.2% in the 4th quarter. King Luther Capital Management Corp now owns 14,957 shares of the financial services provider's stock worth $2,034,000 after acquiring an additional 318 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Colliers International Group by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,998 shares of the financial services provider's stock valued at $1,495,000 after acquiring an additional 1,652 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its stake in Colliers International Group by 17.1% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 51,540 shares of the financial services provider's stock valued at $7,001,000 after purchasing an additional 7,520 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Down 0.1 %

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. The firm has a 50 day moving average price of $140.24 and a 200 day moving average price of $143.62. The stock has a market capitalization of $6.66 billion, a PE ratio of 42.36 and a beta of 1.49.

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.