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

Key Points

• Colliers International Group Inc. (NASDAQ:CIGI) reached a new 52-week high of $158.21, closing at $156.35 with a trading volume of 15,891 shares.
• Analyst ratings for CIGI include six buy ratings, six hold ratings, and two strong buy ratings, with an average target price of $168.40.
• The company reported $1.72 earnings per share for the last quarter, exceeding analysts' estimates, and had a revenue growth of 18.3% year-over-year.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $158.21 and last traded at $156.35, with a volume of 15891 shares trading hands. The stock had previously closed at $156.66.

Analysts Set New Price Targets

Several equities research analysts recently commented on CIGI shares. Raymond James Financial boosted their price objective on shares of Colliers International Group from $170.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Citizens Jmp initiated coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Royal Bank Of Canada raised their price target on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 1st. JMP Securities initiated coverage on shares of Colliers International Group in a report on Monday, July 21st. They set a "market perform" rating for the company. Finally, National Bankshares boosted their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Colliers International Group presently has an average rating of "Moderate Buy" and a consensus target price of $168.40.

Colliers International Group Trading Up 0.2%

The firm has a market capitalization of $7.78 billion, a PE ratio of 71.48 and a beta of 1.44. 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's fifty day simple moving average is $135.67 and its 200 day simple moving average is $128.15.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The firm's revenue was up 18.3% on a year-over-year basis. On average, sell-side analysts predict that Colliers International Group Inc. will post 6.2 earnings per share for the current year.

Colliers International Group Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Monday, July 14th. Investors of record on Monday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a dividend yield of 20.0%. Colliers International Group's dividend payout ratio is currently 13.64%.

Hedge Funds Weigh In On Colliers International Group

A number of hedge funds and other institutional investors have recently modified their holdings of CIGI. LPL Financial LLC boosted its position in shares of Colliers International Group by 53.3% during the fourth quarter. LPL Financial LLC now owns 2,723 shares of the financial services provider's stock worth $370,000 after acquiring an additional 947 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Colliers International Group during the fourth quarter valued at $755,000. Alliancebernstein L.P. lifted its position in Colliers International Group by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 7,474 shares of the financial services provider's stock valued at $1,016,000 after purchasing an additional 180 shares during the last quarter. Geode Capital Management LLC lifted its position in Colliers International Group by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 68,997 shares of the financial services provider's stock valued at $9,410,000 after purchasing an additional 854 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Colliers International Group by 5.3% during the fourth quarter. Wells Fargo & Company MN now owns 7,855 shares of the financial services provider's stock valued at $1,068,000 after purchasing an additional 398 shares during the last quarter. 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.