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

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $83.22 and last traded at $84.03, with a volume of 31,664 shares changing hands. The stock had previously closed at $85.98.

Analyst Ratings Changes

Several equities research analysts have issued reports on CIGI shares. Scotia dropped their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 31st. BMO Capital Markets reiterated an “outperform” rating on shares of Colliers International Group in a research report on Thursday, September 24th. Weiss Ratings upgraded Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. National Bank Financial dropped their price objective on Colliers International Group from $110.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Scotiabank dropped their price objective on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

Colliers International Group Trading Up 5.2%

The firm’s 50 day moving average is $95.81 and its 200 day moving average is $98.74. 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 company has a market cap of $4.63 billion, a PE ratio of 43.13 and a beta of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. On average, equities analysts anticipate that Colliers International Group Inc. will post 6.90 earnings per share for the current year.

Hedge Funds Weigh In On Colliers International Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Colliers International Group by 3.4% during the first quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider’s stock worth $424,409,000 after acquiring an additional 129,144 shares in the last quarter. Spruce House Investment Management LLC grew its holdings in shares of Colliers International Group by 93.0% during the 1st 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 purchasing an additional 1,209,867 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Colliers International Group during the 2nd quarter valued at $292,656,000. Jupiter Topco LLC bought a new position in shares of Colliers International Group during the 2nd quarter valued at $238,809,000. Finally, Turtle Creek Asset Management Inc. raised its position in Colliers International Group by 100.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock worth $174,611,000 after purchasing an additional 820,315 shares during the period. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.