Colliers International Group (NASDAQ:CIGI) Reaches New 1-Year Low After Earnings Miss

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) reached a new 52-week low during mid-day trading on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $95.55 and last traded at $98.4450, with a volume of 77782 shares trading hands. The stock had previously closed at $102.75.

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 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 firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CIGI shares. National Bank Financial decreased 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 report on Wednesday, April 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Colliers International Group in a research note on Wednesday, January 21st. Scotia reduced their price objective 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. Royal Bank Of Canada reduced their price target on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets cut their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.89.

Hedge Funds Weigh In On Colliers International Group

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Colliers International Group in the third quarter worth approximately $26,000. Arax Advisory Partners boosted its position in shares of Colliers International Group by 137.0% in the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 126 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Colliers International Group in the fourth quarter worth approximately $32,000. JPMorgan Chase & Co. bought a new position in shares of Colliers International Group in the second quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Colliers International Group by 26.3% in the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 63 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Trading Up 4.4%

The firm has a market capitalization of $5.29 billion, a P/E ratio of 63.90 and a beta of 1.31. The stock’s 50-day simple moving average is $109.58 and its two-hundred day simple moving average is $131.49. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.10.

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.