Colliers International Group (NASDAQ:CIGI) Trading Up 8.5% - What's Next?

Key Points

• Colliers International Group (NASDAQ:CIGI) shares rose sharply, gaining as much as 8.5% intraday and last trading around $103.17 after previously closing at $95.09.
• Recent analyst moves were mixed: several firms cut price targets, but the stock still holds a Moderate Buy consensus with a $159.11 average price target.
• The company recently reported quarterly earnings of $0.91 per share, slightly below estimates, while revenue came in below forecasts at $1.13 billion despite growing 15.1% year over year.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI's stock price shot up 8.5% during mid-day trading on Wednesday . The stock traded as high as $100.80 and last traded at $103.1740. 16,181 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 316,233 shares. The stock had previously closed at $95.09.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CIGI shares. Scotia cut their price objective on shares of Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating for the company in a research report on Wednesday, April 15th. Zacks Research raised shares of Colliers International Group from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 2nd. Royal Bank Of Canada cut their price target on shares of Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 6th. Raymond James Financial reduced their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, National Bank Financial decreased their price objective on Colliers International Group from $143.00 to $109.00 and set an "outperform" rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.11.

Colliers International Group Stock Up 7.3%

The firm has a market capitalization of $5.21 billion, a PE ratio of 62.98 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average of $95.72 and a two-hundred day moving average of $113.27.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the firm earned $0.87 earnings per share. The company's quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Colliers International Group Inc. will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Colliers International Group's payout ratio is currently 18.52%.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently bought and sold shares of CIGI. Goldman Sachs Group Inc. lifted its holdings in shares of Colliers International Group by 78.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock worth $15,698,000 after acquiring an additional 56,755 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Colliers International Group by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock worth $5,508,000 after acquiring an additional 505 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Colliers International Group during the 2nd quarter valued at $39,000. Arrowstreet Capital Limited Partnership increased its holdings in Colliers International Group by 190.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider's stock valued at $1,055,000 after purchasing an additional 5,286 shares in the last quarter. Finally, Invesco Ltd. raised its position in Colliers International Group by 0.5% in the 2nd quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider's stock valued at $37,232,000 after purchasing an additional 1,470 shares during the last quarter. Institutional investors own 80.09% of the company's stock.

Colliers International Group Company Profile

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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