Colliers International Group (NASDAQ:CIGI) Reaches New 52-Week Low – Here’s What Happened

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $90.60 and last traded at $91.0750, with a volume of 82228 shares changing hands. The stock had previously closed at $92.89.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CIGI shares. Raymond James Financial reduced their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Scotia cut their price target on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a report on Wednesday, April 15th. National Bank Financial reduced their price objective on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada lowered their target price on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and an average price target of $162.89.

Colliers International Group Stock Performance

The company has a 50-day moving average of $101.19 and a 200 day moving average of $119.45. 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 company has a market cap of $4.67 billion, a PE ratio of 56.36 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. Analysts predict that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. Colliers International Group’s payout ratio is currently 18.52%.

Institutional Trading of Colliers International Group

A number of institutional investors have recently bought and sold shares of the stock. Spruce House Investment Management LLC boosted its stake in Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after buying an additional 1,209,867 shares during the period. Turtle Creek Asset Management Inc. raised its stake in shares of Colliers International Group by 100.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock valued at $174,611,000 after acquiring an additional 820,315 shares during the period. Durable Capital Partners LP lifted its holdings in shares of Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after acquiring an additional 652,744 shares during the last quarter. Norges Bank bought a new stake in shares of Colliers International Group in the 4th quarter worth about $84,906,000. Finally, Bank of Montreal Can lifted its holdings in shares of Colliers International Group by 69.0% in the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after acquiring an additional 439,607 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.