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Stock Pickers says hold Colliers International

2015-11-24 19:21 ET - In the News

Stock Pickers Digest, in its November, 2015, issue, says hold Colliers International Group Inc., recently $54.56. Colliers completed its spinoff from parent company FirstService Inc. on June 1, 2015. Shareholders received one share of Colliers and one share of new FirstService for every share of old FirstService held. For portfolio purposes, we sold our existing position and used the proceeds to buy $1,000 of Colliers shares. A $1,000 investment would now be worth $1,145. Colliers provides commercial real estate services around the world. In the three months to June 30, 2015, the company's revenues rose to $409.8-million (U.S.) from $368.5-million (U.S.) a year earlier. Excluding one-time items, Colliers earned 58 U.S. cents a share in the latest quarter, up from 44 cents a share in the same period last year. These results do not include FirstService. Colliers continues to grow with acquisitions. Its latest purchase is Florida-based Pointe Group Advisors, which specializes in property and project management, as well as real estate sales and leasing. Meanwhile, the stock trades at a high 20.1 times the $2.07 (U.S.) a share the company will likely earn in 2015. Hold.

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