Colliers International Group (NASDAQ:CIGI) Shares Up 8.5% – Time to Buy?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) shares were up 8.5% during trading on Wednesday . The stock traded as high as $100.80 and last traded at $103.1740. 16,181 shares traded hands during trading, a decline of 95% from the average session volume of 316,233 shares. The stock had previously closed at $95.09.

Wall Street Analyst Weigh In

CIGI has been the topic of several research reports. BMO Capital Markets cut their price target on 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. Raymond James Financial lowered their price objective on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada cut 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 research report on Wednesday, May 6th. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Scotia lowered their price target on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.11.

Colliers International Group Stock Performance

The stock’s 50-day moving average is $95.72 and its 200-day moving average is $113.27. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 62.98 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23.

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

Colliers International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Colliers International Group’s dividend payout ratio is presently 18.52%.

Institutional Investors Weigh In On Colliers International Group

A number of hedge funds and other institutional investors have recently bought and sold shares of CIGI. Caitong International Asset Management Co. Ltd purchased a new stake in Colliers International Group in the third quarter valued at about $26,000. Arax Advisory Partners grew its stake in shares of Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 126 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Colliers International Group during the fourth quarter worth about $32,000. JPMorgan Chase & Co. acquired a new position in shares of Colliers International Group during the second quarter valued at about $39,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 63 shares in the last quarter. Institutional investors 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.