CIGI Stock: From $109.56 To $120.30 (9.8% Increase) Intraday Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Colliers International Group Inc (NASDAQ: CIGI) increased from a previous close of $109.56 to a day high of $120.30 during intraday trading this morning. This is why it happened.

The stock price of Colliers International Group Inc (NASDAQ: CIGI) increased from a previous close of $109.56 to a day high of $120.30 during intraday trading this morning. Investors are responding positively to the company’s first-quarter results.

These are the details:

— For the quarter ended March 31, 2021, revenues were $774.9 million, up 23% (18% in local currency) relative to the same quarter in the prior year

— Adjusted EBITDA was $92.1 million, up 69% (65% in local currency) and adjusted EPS was $1.04, up 93% versus the prior-year period. 

— First-quarter adjusted EPS would have been approximately $0.04 lower excluding foreign exchange impacts. 

— GAAP operating earnings were $40.0 million, relative to $18.5 million in the prior-year quarter. 

— GAAP diluted net earnings per share were $0.11, flat relative to the prior-year quarter. 

— First-quarter GAAP EPS would have been approximately $0.04 lower excluding changes in foreign exchange rates.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.