Colliers International Group (NASDAQ:CIGI) Hits New 52-Week Low - Time to Sell?

Key Points

• Colliers shares fell to a new 52-week low, reaching $83.22 and last trading at $84.03, below its 50-day and 200-day moving averages.
• Despite the stock’s decline, analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $154.62.
• The company beat quarterly EPS estimates and reported 16.7% year-over-year revenue growth, while institutional investors own approximately 80.1% of its outstanding shares.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $83.22 and last traded at $84.03, with a volume of 31,664 shares traded. The stock had previously closed at $85.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Weiss Ratings raised shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Scotia decreased their target price on shares of Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 31st. BMO Capital Markets reiterated an "outperform" rating on shares of Colliers International Group in a research report on Thursday, September 24th. Finally, National Bank Financial boosted their price target on shares of Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $154.62.

Colliers International Group Trading Down 0.8%

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $4.36 billion, a PE ratio of 40.57 and a beta of 1.23. The stock's fifty day moving average price is $96.28 and its two-hundred day moving average price is $98.89.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the business earned $1.72 EPS. Colliers International Group's revenue was up 16.7% compared to the same quarter last year. Sell-side analysts anticipate that Colliers International Group Inc. will post 6.92 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. Royal Bank of Canada grew its position in shares of Colliers International Group by 3.4% in the 1st quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider's stock worth $424,409,000 after buying an additional 129,144 shares during the period. Spruce House Investment Management LLC increased its stake in shares of Colliers International Group by 93.0% in the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider's stock worth $268,387,000 after acquiring an additional 1,209,867 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Colliers International Group in the 2nd quarter worth about $292,656,000. Jupiter Topco LLC purchased a new position in Colliers International Group during the 2nd quarter valued at about $238,809,000. Finally, Turtle Creek Asset Management Inc. lifted its position in Colliers International Group by 100.9% during the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock valued at $174,611,000 after acquiring an additional 820,315 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 is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.

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