Colliers International Group (NASDAQ:CIGI) Hits New 12-Month High - Still a Buy?

Key Points

• Colliers International Group's stock reached a new 52-week high of $159.37 during trading, showing strong performance with a market cap of $7.93 billion.
• Multiple analysts have upgraded their price targets for CIGI, with recent targets ranging from $170.00 to $185.00, indicating a consensus rating of "Moderate Buy."
• The company's revenue increased by 18.3% compared to the same quarter last year, achieving $1.37 billion in revenue alongside a reported EPS of $1.72, exceeding analysts' expectations.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI's share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $159.37 and last traded at $159.11, with a volume of 14402 shares trading hands. The stock had previously closed at $157.89.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CIGI shares. Stifel Nicolaus upped their price target on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Scotiabank increased their price target on Colliers International Group from $155.00 to $170.00 and gave the company a "sector outperform" rating in a research report on Friday, August 1st. CIBC increased their price target on Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. Royal Bank Of Canada increased their price target on Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Raymond James Financial increased their price target on Colliers International Group from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Price Performance

The firm has a 50-day moving average of $137.06 and a 200-day moving average of $128.45. The firm has a market capitalization of $7.93 billion, a P/E ratio of 72.85 and a beta of 1.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.20. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%. The company's revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. As a group, analysts predict that Colliers International Group Inc. will post 6.2 EPS for the current year.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors have recently bought and sold shares of CIGI. LPL Financial LLC increased its stake in Colliers International Group by 53.3% in the 4th quarter. LPL Financial LLC now owns 2,723 shares of the financial services provider's stock worth $370,000 after buying an additional 947 shares in the last quarter. Alliancebernstein L.P. increased its stake in Colliers International Group by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 7,474 shares of the financial services provider's stock worth $1,016,000 after buying an additional 180 shares in the last quarter. Geode Capital Management LLC increased its stake in Colliers International Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 68,997 shares of the financial services provider's stock worth $9,410,000 after buying an additional 854 shares in the last quarter. Wells Fargo & Company MN increased its stake in Colliers International Group by 5.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,855 shares of the financial services provider's stock worth $1,068,000 after buying an additional 398 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Colliers International Group by 10.5% in the 4th quarter. Russell Investments Group Ltd. now owns 14,993 shares of the financial services provider's stock worth $2,038,000 after buying an additional 1,419 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.

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