Colliers International Group (NASDAQ:CIGI) Sets New 12-Month Low – What’s Next?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s stock price reached a new 52-week low on Wednesday. The company traded as low as $86.56 and last traded at $85.9810, with a volume of 11348 shares changing hands. The stock had previously closed at $87.61.

Wall Street Analyst Weigh In

A number of brokerages have commented on CIGI. Scotiabank cut their price objective on shares of 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. BMO Capital Markets reiterated an “outperform” rating on shares of Colliers International Group in a research note on Thursday, September 24th. National Bank Financial increased their price target on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Scotia reduced their price objective on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $154.62.

Colliers International Group Stock Performance

The company has a market capitalization of $4.36 billion, a PE ratio of 40.70 and a beta of 1.23. The stock has a 50-day simple moving average of $97.60 and a 200 day simple moving average of $99.44. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $1.72 EPS. The firm’s revenue for the quarter was up 16.7% on a year-over-year basis. Equities analysts anticipate that Colliers International Group Inc. will post 6.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Colliers International Group by 108.7% in the second quarter. Tidal Investments LLC now owns 4,990 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 2,599 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Colliers International Group by 21.4% in the 2nd quarter. NewEdge Advisors LLC now owns 2,728 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 480 shares in the last quarter. Nykredit A S acquired a new stake in shares of Colliers International Group during the 2nd quarter worth about $84,000. TD Waterhouse Canada Inc. grew its holdings in shares of Colliers International Group by 7.2% during the second quarter. TD Waterhouse Canada Inc. now owns 136,823 shares of the financial services provider’s stock worth $13,822,000 after buying an additional 9,230 shares in the last quarter. Finally, Addenda Capital Inc. raised its position in shares of Colliers International Group by 0.5% in the second quarter. Addenda Capital Inc. now owns 167,188 shares of the financial services provider’s stock valued at $15,681,000 after buying an additional 900 shares during the last quarter. Hedge funds and other 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 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.