moneyheap
CIGI · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Colliers International Group Inc. Subordinate Voting Shares (CIGI) stock moving?
CIGI rose from a late-October range of about $92 to $97 to an intraday high of $106.11 on Nov 2 on heavy volume of 420,528 shares, the same day Englobe completed its Crozier acquisition. On Nov 4 the company reported Q3 results: adjusted EPS of $1.97 beat the $1.95 estimate, but sales of $1.638B missed the $1.679B estimate. The stock hit an intraday high of $106.73 that day, then reversed to close at $98.50 on 738,292 shares, roughly double the recent average. RBC cut its price target to $140 from $155 and kept Outperform on Nov 5, following Scotiabank's cut to $130 with a Sector Outperform rating in late October. The shares have since drifted lower, closing at $92.20 on Nov 10 with an intraday low of $92.03, back near the late-October closes and close to the Oct 26 low of $90.70. The pullback has come on modest volume, and the post-earnings gain has largely reversed. Acquisition activity (Obsidian, Progedil, Crozier) and deal mandates such as the Lamar sale support the growth story, but the sales miss and lower targets weigh on near-term sentiment. Lacking forward guidance or data after Nov 10, the outlook is mixed.
News behind the analysis
- Colliers International Group Inc. Reports Third Quarter 2026 Financial ResultsColliers reported third-quarter 2026 results with growth in both consolidated and net revenues.
- Colliers Intl Gr Q3 Adj. EPS $1.97 Beats $1.95 Estimate, Sales $1.638B Miss $1.679B EstimateAdjusted EPS beat consensus, but sales came in below the estimate, and the stock peaked intraday and closed lower that day.
- RBC Cuts Price Target on Colliers International GroupRBC lowered its price target from $155 to $140 and kept an Outperform rating.
- RBC Capital Maintains Outperform on Colliers International Gr, Lowers Price Target to $140RBC kept its Outperform rating while cutting its target to $140 after the quarter.
- Englobe, a Colliers Company, Finalizes Acquisition of C.F. Crozier & Associates Inc.Englobe completed its acquisition of Ontario engineering firm C.F. Crozier & Associates to expand regional infrastructure and land development capabilities.
- Colliers International Group Inc. Announces Acquisition of Obsidian Engineering Corp.Colliers agreed to acquire Calgary-based Obsidian Engineering Corp. through its Canadian engineering platform, Englobe. Financial terms were not disclosed.
- Colliers International Group Agrees To Acquire Obsidian Engineering; Financial Terms Not DisclosedBenzinga reported the Obsidian Engineering agreement, with no financial terms disclosed.
- Scotiabank Maintains Sector Outperform on Colliers International Gr, Lowers Price Target to $130Scotiabank kept a Sector Outperform rating and lowered its price target to $130.
- Colliers Represents Lamar Companies in $63.1 Million Sale of Promenade at Casa GrandeColliers acted as representative for Lamar Companies in the $63.1 million sale of the Promenade at Casa Grande shopping center in Arizona.
- Colliers Reports Q3 2026 Investment Sales PerformanceColliers reported Singapore investment sales of $11.6 billion in Q3 2026, down 26.2% from the previous quarter.
About Colliers International Group Inc. Subordinate Voting Shares
Colliers International is a Toronto-based professional services and investment management firm that trades on both Nasdaq and the TSX. Beyond commercial real estate brokerage and services, it has built a large engineering consulting business and an alternative-asset investment management arm, mostly through a steady stream of acquisitions, and its founders keep voting control through multiple-voting shares.
How it makes money
It earns money from three segments. Commercial real estate fees come from leasing, property sales and debt placement (transactional, tied to deal volume) and from property and facility management (recurring). Engineering earns consulting and project-management fees on infrastructure, defense and building projects. Investment management earns recurring management fees, plus some performance fees, on private real estate and infrastructure funds. Total revenue is roughly $9 billion a year (approximate), and a large share of earnings comes from the recurring engineering, investment management and outsourcing businesses.
What usually moves CIGI
- Commercial property sales and leasing volumes
- Interest rates and credit availability
- Pace and pricing of acquisitions
- Infrastructure and engineering project demand
- Investment management fundraising and assets under management