Colliers International Group (NASDAQ:CIGI) Sets New 12-Month High - Time to Buy?

Key Points

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Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI hit a new 52-week high during trading on Tuesday . The company traded as high as $164.01 and last traded at $163.34, with a volume of 128175 shares trading hands. The stock had previously closed at $162.80.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CIGI shares. Scotiabank increased their price target on shares of 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 shares of Colliers International Group from $149.00 to $175.00 and gave the company an "outperformer" rating in a research report on Friday, August 1st. National Bankshares increased their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. JMP Securities began coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Finally, Stifel Nicolaus raised their target price on shares of Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $168.40.

Colliers International Group Price Performance

The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The stock has a market cap of $8.29 billion, a P/E ratio of 76.15 and a beta of 1.44. The firm's fifty day moving average price is $142.82 and its 200-day moving average price is $129.54.

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

Institutional Trading of Colliers International Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in Colliers International Group in the second quarter worth $96,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Colliers International Group by 7.8% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,726 shares of the financial services provider's stock worth $3,368,000 after acquiring an additional 1,859 shares during the period. Durable Capital Partners LP lifted its stake in Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock worth $473,273,000 after acquiring an additional 652,744 shares during the period. Raymond James Financial Inc. lifted its stake in Colliers International Group by 9.2% in the second quarter. Raymond James Financial Inc. now owns 10,817 shares of the financial services provider's stock worth $1,412,000 after acquiring an additional 907 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Colliers International Group by 21.3% in the second quarter. The Manufacturers Life Insurance Company now owns 903,500 shares of the financial services provider's stock worth $117,619,000 after acquiring an additional 158,668 shares during the period. Hedge funds and other institutional investors own 80.09% of the company's stock.

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.