On September 12, 2023, it was reported that BloombergSen Inc. has decreased its holdings in Colliers International Group Inc. by 1.3% during the first quarter of the year. According to their recent 13F filing with the Securities and Exchange Commission, BloombergSen Inc. now owns 1,426,610 shares of Colliers International Group’s stock after selling 19,361 shares in that period. This reduction in holdings places Colliers International Group as the second-largest position in BloombergSen Inc.’s portfolio, accounting for approximately 10.3% of their overall holdings. This equates to a total value of $150,579,000 based on BloombergSen Inc.’s most recent SEC filing.
Colliers International Group released its quarterly earnings data on August 2nd, 2023. The financial services provider reported an earnings per share (EPS) of $1.21 for the quarter, falling short of the consensus estimate of $1.35 by ($0.14). Additionally, it recorded a return on equity of 47.47% and a net margin of only 0.17%. However, the company did manage to generate $1.08 billion in revenue for the quarter, which aligns closely with analysts’ expectations.
Colliers International Group is primarily engaged in providing commercial real estate professional and investment management services to corporate and institutional clients across various regions including the Americas, Europe, Middle East, Africa, and Asia Pacific. Its comprehensive range of offerings encompasses transaction brokerage services such as sales, leasing, debt finance services alongside landlord and tenant representation services plus capital markets and investment solutions as well as mortgage investment banking services.
As we move forward into the rest of this year and beyond it will be interesting to observe how Colliers International Group continues to navigate these market conditions while delivering valuable real estate solutions to its clientele worldwide.
Colliers International Group Inc.
Updated on: 03/03/2024
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
ROE: Strong Buy
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|Analyst / firm
Rising Interest from Large Investors and Analyst Optimism: A Potential Investment Opportunity in Colliers International Group Inc. (CIGI)
Colliers International Group Inc. (CIGI) has attracted the attention of several large investors, leading to modifications in their holdings of the company. One notable investor, Power Corp of Canada, acquired a new stake in Colliers International Group during the first quarter, with an estimated value of $72,000. Similarly, Citigroup Inc. also joined the ranks of investors by acquiring a stake worth $75,000 in the same quarter. JPMorgan Chase & Co. followed suit by purchasing a new stake worth $123,000 during the first quarter as well.
Quantbot Technologies LP demonstrated significant growth in its stake, increasing it by 1,500% during the second quarter. The financial services provider now owns 1,600 shares of Colliers International Group’s stock valued at approximately $175,000 after this substantial investment. These moves indicate a rising interest from institutional investors in pursuing opportunities within this sector.
Furthermore, Barclays PLC entered into the mix when it acquired a new position in Colliers International Group during the fourth quarter for approximately $177,000. Taking these investments into account, it is evident that hedge funds and other institutional investors currently hold around 63.93% of CIGI stock.
On Tuesday morning, CIGI garnered attention as its stock opened at $115.63. This indicates a potential for growth and profitability within the upcoming period.
Financial indicators such as the current ratio of 1.04 and quick ratio of 1.04 suggest that Colliers International Group is efficiently managing its assets to meet short-term obligations while maintaining liquidity levels necessary to sustain its operations effectively.
The company boasts a market capitalization of approximately $5.30 billion and exhibits considerable promise for future growth based on its performance track record thus far.
Colliers International Group’s price-to-earnings ratio stands at 770.87 with a beta value of 1.45 indicating higher volatility compared to the market average. While these figures may raise eyebrows, it is important to consider them in conjunction with the overall market condition and industry norms.
The business’s 50-day simple moving average currently sits at $108.16, while its 200-day simple moving average stands at $103.17. These averages provide insights into the trends of Colliers International Group’s stock price, offering investors a glimpse into potential short-term and long-term patterns.
Over the past twelve months, Colliers International Group has experienced fluctuations in its stock price, ranging from a low of $84.16 to a high of $129.95. This variation indicates that investors should exercise caution when considering investments in this company due to its relatively volatile nature.
Research analysts have been closely scrutinizing Colliers International Group’s performance and have recently released reports with varying perspectives on the company’s future prospects. Royal Bank of Canada increased its price objective for CIGI stock from $128.00 to $130.00 and assigned an “outperform” rating, emphasizing confidence in the company’s potential growth opportunities.
National Bank Financial, on the other hand, lowered their price target for Colliers International Group shares from $133.00 to $131.00 but still maintained a positive outlook for the company.
StockNews.com began coverage on Colliers International Group by assigning a “hold” rating for the stock. It is worth noting that one research analyst has rated CIGI as a hold, while five others have given it a buy rating. Additionally, one analyst provided an even stronger rating by designating it as a strong buy.
In summary, Colliers International Group Inc., despite experiencing recent modifications in its holdings by large investors, offers promising investment opportunities within the financial services sector. With multiple research analysts providing positive ratings and adjusted price targets reflecting optimism about future profitability, careful consideration must be given based on individual investment strategies and risk tolerance before making investment decisions.