Colliers International Group (NASDAQ:CIGI) Reaches New 12-Month Low – Here’s Why

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $89.05 and last traded at $89.53, with a volume of 139778 shares traded. The stock had previously closed at $89.61.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CIGI. BMO Capital Markets decreased their price objective on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Stifel Nicolaus set a $175.00 target price on Colliers International Group in a report on Friday, March 13th. National Bank Financial lowered their price target on shares of Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. Finally, Raymond James Financial dropped their price objective on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $162.89.

Colliers International Group Trading Down 1.4%

The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 54.82 and a beta of 1.26. 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 business has a fifty day moving average price of $99.34 and a 200 day moving average price of $117.74.

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). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted $0.87 EPS. Colliers International Group’s revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current year.

Colliers International Group Dividend Announcement

The company also recently disclosed 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 is Tuesday, June 30th. Colliers International Group’s dividend payout ratio (DPR) is 18.52%.

Institutional Trading of Colliers International Group

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in 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 purchasing an additional 56,755 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Colliers International Group by 1.1% during the first 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 buying an additional 505 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Colliers International Group during the second quarter valued at approximately $39,000. Arrowstreet Capital Limited Partnership grew its stake in Colliers International Group by 190.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock worth $1,055,000 after buying an additional 5,286 shares during the period. Finally, Invesco Ltd. grew its stake in Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider’s stock worth $37,232,000 after buying an additional 1,470 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.

About Colliers International Group

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.