Colliers International Group (NASDAQ:CIGI) Hits New 52-Week Low – Time to Sell?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) reached a new 52-week low during trading on Monday. The stock traded as low as $87.36 and last traded at $88.10, with a volume of 19758 shares trading hands. The stock had previously closed at $90.42.

Analyst Ratings Changes

CIGI has been the subject of a number of recent research reports. Scotiabank reduced their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Scotia lowered their price objective on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st. National Bank Financial boosted their price objective on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. BMO Capital Markets restated an “outperform” rating on shares of Colliers International Group in a report on Thursday. Finally, Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.62.

Colliers International Group Stock Down 1.9%

The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 42.22 and a beta of 1.23. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a 50-day moving average of $98.90 and a 200 day moving average of $100.35.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, sell-side analysts forecast that Colliers International Group Inc. will post 6.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CIGI. Alberta Investment Management Corp bought a new position in shares of Colliers International Group during the 4th quarter worth approximately $47,799,000. Vestcor Inc bought a new stake in Colliers International Group in the 4th quarter valued at $2,205,000. Norges Bank acquired a new stake in Colliers International Group during the 4th quarter valued at $84,906,000. Montrusco Bolton Investments Inc. lifted its holdings in Colliers International Group by 12.5% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock valued at $15,484,000 after purchasing an additional 16,108 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in Colliers International Group during the second quarter worth $20,303,000. 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 professional services and investment management company focused on commercial real estate and related industries. The company provides services to occupiers, owners, investors and developers across office, industrial, retail, multifamily, hospitality and other property sectors.

Its offerings include leasing and sales brokerage, capital markets advisory, valuation and appraisal, debt and equity placement, property and facilities management, project management, workplace consulting and engineering services.