Colliers International Group (NASDAQ:CIGI) Sets New 52-Week Low – What’s Next?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $89.05 and last traded at $89.53, with a volume of 139778 shares trading hands. The stock had previously closed at $89.61.

Analyst Upgrades and Downgrades

CIGI has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Stifel Nicolaus set a $175.00 target price on shares of Colliers International Group in a report on Friday, March 13th. BMO Capital Markets cut their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Finally, Scotia decreased their price target on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Colliers International Group has an average rating of “Moderate Buy” and a consensus target price of $162.89.

Colliers International Group Trading Down 0.1%

The company has a market capitalization of $4.57 billion, a P/E ratio of 55.27 and a beta of 1.26. The company has a 50-day simple moving average of $100.31 and a 200 day simple moving average of $118.53. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s dividend payout ratio is presently 18.52%.

Institutional Trading of Colliers International Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Spruce House Investment Management LLC raised its position in shares of Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock valued at $268,387,000 after buying an additional 1,209,867 shares during the last quarter. Turtle Creek Asset Management Inc. lifted its stake in shares of Colliers International Group by 100.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock valued at $174,611,000 after buying an additional 820,315 shares during the period. Durable Capital Partners LP grew its position in Colliers International Group by 22.0% during the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after buying an additional 652,744 shares in the last quarter. Norges Bank acquired a new stake in Colliers International Group during the fourth quarter worth about $84,906,000. Finally, Bank of Montreal Can increased its stake in Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock valued at $158,274,000 after acquiring an additional 439,607 shares during the period. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.