Colliers Intl Group Inc Stock Price, News & Analysis

Colliers (NASDAQ, TSX: CIGI) announced the rebranding of its subsidiary Maser Consulting to Colliers Engineering & Design, enhancing alignment with its global brand. Founded in 1984, Colliers Engineering & Design has over 1,000 professionals across 36 U.S. offices, providing multi-discipline engineering and consulting services. This transition aims to expand service capabilities and optimize client project outcomes, leveraging Colliers' renowned platform and resources. The company emphasizes its partnership philosophy and decentralized management style, positioning for continued growth in the evolving market.

Colliers International Group (CIGI) reported its financial results for Q4 and the full year 2020, highlighting revenues of $913.7 million, down 2% year-over-year, with adjusted EBITDA increasing by 7% to $154.9 million. Full-year revenues totaled $2.79 billion, a 9% decline compared to 2019. Adjusted EPS decreased 10% to $4.18. The majority of revenues now come from higher-margin recurring services. Despite challenges from the pandemic, Colliers is optimistic about recovery in 2021, projecting revenue growth of 10% to 25%. A wage subsidy of $10.9 million was received in Q4.

Colliers International Group (CIGI) will announce its Q3 2020 financial results on October 27, 2020, at 7:00 AM ET. A conference call for investors will follow at 11:00 AM ET, featuring CEO Jay S. Hennick, COO John Friedrichsen, and CFO Christian Mayer. Participants can join via toll-free or international numbers provided, using conference ID 6475418. For those who miss the call, a rebroadcast will be available for 90 days. Colliers operates in 68 countries, employing over 18,000 professionals, and delivered significant annual investment returns for its shareholders.

Colliers International has appointed Yukihiro Ogasawara as Managing Director & Chairman in Japan to drive growth. He brings over 40 years of experience from CBRE, where he was Vice Chairman of Capital Markets, and from Sumitomo Realty & Development. Ogasawara will lead the expansion of Colliers' operations in Japan, which is identified as a rapidly growing market. He will also join the Asia Executive Team and collaborate with former leader Katsuji Tokita, who will continue as Managing Director for Major Projects.

Colliers International Group (CIGI) announced the acquisition of Colliers International Nashville, enhancing its market position and service capabilities. The Nashville office will operate as a company-owned entity, allowing current shareholders to retain equity. With a strong reputation in the Nashville area, the team aims to leverage Colliers' global resources for growth. The Nashville market is recognized as a top real estate destination due to its diverse economy and business-friendly environment, positioning Colliers well for future success.

Colliers International (CIGI) has announced the opening of a new office in Raleigh, North Carolina, enhancing its service offerings in the region. This follows the acquisition of Colliers | Charlotte, allowing Colliers to provide services such as leasing, capital markets, and property management to a broad client base. J. Scott Adams will oversee operations, leveraging his 20 years of local market experience. The firm emphasizes growth in the Southeast U.S., aiming to strengthen its brand and service capabilities.

Colliers International Group (NASDAQ: CIGI) has announced a normal course issuer bid (NCIB) to buy back up to 3,000,000 subordinate voting shares during the period from July 20, 2020, to July 19, 2021. This represents approximately 10% of its public float as of June 30, 2020. The purchases will occur on the TSX, NASDAQ, or alternative trading systems. The average daily trading volume on the TSX for H1 2020 was 107,482 shares, limiting daily NCIB purchases to 26,870 shares. Colliers' previous NCIB, allowing the purchase of 2,900,000 shares, expires on July 17, 2020.