Colliers International Group (NASDAQ:CIGI) Shares Climb 8.9% – Time to Buy?

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) traded up 8.9% on Monday. The stock traded as high as $104.69 and last traded at $105.2470. Approximately 184,852 shares were traded during trading, a decline of 35% from the average session volume of 286,080 shares. The stock had previously closed at $96.65.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CIGI shares. BMO Capital Markets reiterated an “outperform” rating on shares of Colliers International Group in a report on Thursday, September 24th. National Bank Financial reduced their price target on Colliers International Group from $110.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. Scotiabank lowered their price objective on shares of Colliers International Group from $145.00 to $130.00 and set a “sector outperform” rating on the stock in a report on Wednesday, October 28th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.86.

Colliers International Group Price Performance

The company has a market cap of $5.32 billion, a P/E ratio of 49.72 and a beta of 1.18. The company has a fifty day moving average price of $93.53 and a two-hundred day moving average price of $104.63. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

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

Institutional Investors Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently made changes to their positions in CIGI. Trust Co. of Vermont bought a new position in shares of Colliers International Group in the second quarter valued at $36,000. Global Retirement Partners LLC bought a new stake in Colliers International Group during the second quarter worth $44,000. Tacita Capital Inc acquired a new stake in Colliers International Group in the second quarter valued at $67,000. Nykredit A S acquired a new stake in Colliers International Group in the second quarter valued at $84,000. Finally, Callan Family Office LLC bought a new position in shares of Colliers International Group in the 2nd quarter valued at about $228,000. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related business services. The company serves corporate, institutional and private clients through a broad platform that includes leasing, capital markets, valuation and advisory services.

Its other activities include property, facilities and project management, engineering and consulting services, and real estate investment management. These services are designed to help clients manage, develop, lease, acquire and dispose of commercial properties and portfolios across a range of sectors.

Colliers operates across the Americas, Asia Pacific and Europe, the Middle East and Africa through a combination of company-owned operations and affiliated offices.