Colliers International Group (NASDAQ:CIGI) Sets New 52-Week 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 on Wednesday . The company traded as high as $158.21 and last traded at $156.35, with a volume of 15891 shares traded. The stock had previously closed at $156.66.

Wall Street Analysts Forecast Growth

CIGI has been the topic of a number of recent analyst reports. JMP Securities initiated coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Citizens Jmp assumed coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. JPMorgan Chase & Co. cut their price objective on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Royal Bank Of Canada boosted their price objective on shares of 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, 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 research report on Friday, August 1st. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Stock Performance

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.17 and a current ratio of 1.17. The stock's fifty day moving average price is $133.48 and its 200-day moving average price is $127.88. The company has a market capitalization of $7.71 billion, a P/E ratio of 70.81 and a beta of 1.44.

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, 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 17.09%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the firm earned $1.36 EPS. Colliers International Group's quarterly revenue was up 18.3% compared to the same quarter last year. As a group, research analysts anticipate that Colliers International Group Inc. will post 6.2 EPS for the current fiscal year.

Colliers International Group Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in Colliers International Group by 0.4% in the 2nd quarter. Bank of Montreal Can now owns 686,130 shares of the financial services provider's stock valued at $89,830,000 after buying an additional 2,943 shares during the last quarter. Versor Investments LP grew its stake in Colliers International Group by 234.5% in the 2nd quarter. Versor Investments LP now owns 5,831 shares of the financial services provider's stock valued at $763,000 after buying an additional 4,088 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Colliers International Group by 57.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 7,358 shares of the financial services provider's stock worth $961,000 after purchasing an additional 2,685 shares in the last quarter. Whittier Trust Co. grew its position in shares of Colliers International Group by 10.5% during the 2nd quarter. Whittier Trust Co. now owns 5,388 shares of the financial services provider's stock worth $703,000 after purchasing an additional 510 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its position in shares of Colliers International Group by 1.4% during the 2nd quarter. Cidel Asset Management Inc. now owns 129,280 shares of the financial services provider's stock worth $16,881,000 after purchasing an additional 1,756 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

About Colliers International Group

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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