Notable News Spotlight: Colliers International Group Inc. (NASDAQ:CIGI)

Colliers International Group Inc. (NASDAQ:CIGI) spotted trading -16.28% off 52-week high price. On the other end, the stock has been noted 35.53% away from the low price over the last 52-weeks. The stock changed 0.30% to recent value of $70.49. The stock transacted 48354 shares during most recent day however it has an average volume of 78.86K shares. The company has 38.12M of outstanding shares and 36.27M shares were floated in the market.  

 Colliers International Group Inc. (NASDAQ:CIGI) announced  that Dylan Taylor has been terminated as Chief Executive Officer of its Real Estate Services division for misconduct including improper trading activity in Colliers securities in breach of his employment obligations. Mr. Taylor has made certain allegations which he asserts as the basis for a potential constructive dismissal claim. While management and the Board of Directors of Colliers have no reason to believe the validity of such claims, the Board has constituted a special committee to oversee an independent review of the allegations.

Jay Hennick, Chairman & Chief Executive Officer will continue to oversee the strategy and operations of Colliers as he has in the past, with all Regional and Business Line leaders directly reporting to him. John Friedrichsen, long-time Chief Financial Officer, will also take on added operational responsibilities. Effective immediately, the position of Chief Executive Officer of Real Estate Services is eliminated.  Its earnings per share (EPS) expected to touch remained 49.10% for this year while earning per share for the next 5-years is expected to reach at 20.00%. CIGI has a gross margin of 35.50% and an operating margin of 6.80% while its profit margin remained 3.20% for the last 12 months. 

 According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 7.10% from the mean of 20 days, 8.06% from mean of 50 days SMA and performed 7.31% from mean of 200 days price. Company’s performance for the week was 2.91%, 14.14% for month and YTD performance remained 28.09%.

Leave a Reply

Your email address will not be published. Required fields are marked *