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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s share price reached a new 52-week low on Wednesday . The stock 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 Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotia decreased their target price on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. BMO Capital Markets dropped their price target on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Raymond James Financial reduced their price objective on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus set a $175.00 target price on Colliers International Group in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.89.

Colliers International Group Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 55.27 and a beta of 1.26. The stock’s 50 day simple moving average is $100.31 and its 200-day simple moving average is $118.53.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. On average, analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

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

Hedge Funds Weigh In On Colliers International Group

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider’s stock worth $15,698,000 after acquiring an additional 56,755 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Colliers International Group by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider’s stock valued at $5,508,000 after acquiring an additional 505 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Colliers International Group in the 2nd quarter valued at approximately $39,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Colliers International Group by 190.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock valued at $1,055,000 after acquiring an additional 5,286 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Colliers International Group by 0.5% in the 2nd quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider’s stock worth $37,232,000 after purchasing an additional 1,470 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors.

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.