Colliers International Group (NASDAQ:CIGI) Reaches New 12-Month Low – Should You Sell?

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Stifel Nicolaus set a $175.00 price target on shares of Colliers International Group in a report on Friday, March 13th. BMO Capital Markets reduced their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Scotia lowered 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. Finally, Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.89.

Colliers International Group Price Performance

The stock’s 50-day moving average is $101.90 and its 200 day moving average is $120.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $4.62 billion, a PE ratio of 56.00 and a beta of 1.26.

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

Colliers International Group Announces Dividend

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

Institutional Trading of Colliers International Group

A number of large investors have recently bought and sold shares of CIGI. Spruce House Investment Management LLC increased its stake in shares of 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 acquiring an additional 1,209,867 shares during the period. Turtle Creek Asset Management Inc. boosted its holdings 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 valued at $174,611,000 after purchasing an additional 820,315 shares in the last quarter. Durable Capital Partners LP boosted its holdings in 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 valued at $473,273,000 after purchasing an additional 652,744 shares in the last quarter. Norges Bank acquired a new position in Colliers International Group during the 4th quarter worth approximately $84,906,000. Finally, Bank of Montreal Can raised its stake in shares of Colliers International Group by 69.0% during 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 buying an additional 439,607 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.