Colliers International Group (NASDAQ:CIGI) Shares Gap Up - Should You Buy?

Key Points

• Colliers shares gapped higher, opening at $105.98 versus a previous close of $100.86, before trading near $104.53.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157.56, despite several recent target reductions.
• Latest quarterly results showed adjusted earnings of $1.83 per share, beating estimates, while revenue rose 16.7% year over year to $1.38 billion but fell short of expectations; institutions own approximately 80.09% of the stock.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI's share price gapped up before the market opened on Friday . The stock had previously closed at $100.86, but opened at $105.98. Colliers International Group shares last traded at $104.5250, with a volume of 4,835 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. Raymond James Financial reduced their price target on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotiabank decreased their price target on Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Weiss Ratings raised Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Scotia cut their price objective on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $157.56.

Colliers International Group Price Performance

The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. The stock's fifty day simple moving average is $97.53 and its 200-day simple moving average is $106.18. The company has a market capitalization of $5.35 billion, a P/E ratio of 49.90 and a beta of 1.24.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.04. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The firm's revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake 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 acquiring an additional 63 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Colliers International Group by 5.9% in the 1st quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 126 shares during the period. Arax Advisory Partners boosted its holdings in Colliers International Group by 137.0% in the 4th quarter. Arax Advisory Partners now owns 218 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 126 shares during the period. Versor Investments LP grew its position in Colliers International Group by 6.2% in the 4th quarter. Versor Investments LP now owns 2,415 shares of the financial services provider's stock worth $355,000 after purchasing an additional 142 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in Colliers International Group by 8.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,975 shares of the financial services provider's stock worth $290,000 after purchasing an additional 151 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

About Colliers International Group

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.

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