Colliers International Group (NASDAQ:CIGI) Shares Gap Up – Here’s What Happened

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) gapped up before the market opened on Friday . The stock had previously closed at $100.86, but opened at $105.98. Colliers International Group shares last traded at $104.5250, with a volume of 4,835 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Scotiabank lowered their price target on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Raymond James Financial dropped their target price on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on 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 raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Scotia cut their price objective on 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Stock Down 1.0%

The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 49.90 and a beta of 1.24. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19. The firm’s 50-day simple moving average is $97.53 and its two-hundred day simple moving average is $106.18.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $1.72 earnings per share. Colliers International Group’s quarterly revenue was up 16.7% on a year-over-year basis. On average, sell-side analysts expect that Colliers International Group Inc. will post 6.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position 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 worth $40,000 after acquiring an additional 63 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Colliers International Group by 5.9% in the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 126 shares during the last quarter. Arax Advisory Partners boosted its holdings in Colliers International Group by 137.0% in the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 126 shares during the last quarter. Versor Investments LP increased its position in Colliers International Group by 6.2% in the fourth quarter. Versor Investments LP now owns 2,415 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 142 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its position in Colliers International Group by 8.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 151 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

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.