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Colliers International (CIGI) Moves 4.8% Higher: Will This Strength Last?
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Colliers International (CIGI - Free Report) shares rallied 4.8% in the last trading session to close at $154.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.1% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the positive sentiments within operations real estate amid favorable industry fundamentals.
This commercial real estate services provider is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of +24.4%. Revenues are expected to be $1.17 billion, up 10.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Colliers International, the consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CIGI going forward to see if this recent jump can turn into more strength down the road.
Colliers International is part of the Zacks Real Estate - Operations industry. Jones Lang LaSalle (JLL - Free Report) , another stock in the same industry, closed the last trading session 5.1% higher at $274.13. JLL has returned -2.4% in the past month.
For Jones Lang LaSalle, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.66. This represents a change of +32.3% from what the company reported a year ago. Jones Lang LaSalle currently has a Zacks Rank of #3 (Hold).
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Colliers International (CIGI) Moves 4.8% Higher: Will This Strength Last?
Colliers International (CIGI - Free Report) shares rallied 4.8% in the last trading session to close at $154.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 1.1% loss over the past four weeks.
The increased investor optimism in the stock can be attributed to the positive sentiments within operations real estate amid favorable industry fundamentals.
This commercial real estate services provider is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of +24.4%. Revenues are expected to be $1.17 billion, up 10.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Colliers International, the consensus EPS estimate for the quarter has been revised 1.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CIGI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Colliers International is part of the Zacks Real Estate - Operations industry. Jones Lang LaSalle (JLL - Free Report) , another stock in the same industry, closed the last trading session 5.1% higher at $274.13. JLL has returned -2.4% in the past month.
For Jones Lang LaSalle, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.66. This represents a change of +32.3% from what the company reported a year ago. Jones Lang LaSalle currently has a Zacks Rank of #3 (Hold).