Colliers International Group (NASDAQ:CIGI) Sets New 1-Year Low - Should You Sell?

Key Points

• Colliers International Group shares fell 1.9% to $88.10, reaching a new 52-week low of $87.36 and trading below both its 50-day and 200-day moving averages.
• Despite the stock’s decline, analysts remain broadly optimistic: the company has a “Moderate Buy” consensus rating and a $154.62 average price target, well above its recent trading level.
• Colliers beat quarterly earnings expectations with EPS of $1.83 versus $1.79 estimated, while revenue rose 16.7% year over year to $1.38 billion, though it fell short of revenue estimates.

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI's stock price hit a new 52-week low during trading on Monday. The stock traded as low as $87.36 and last traded at $88.10, with a volume of 19758 shares changing hands. The stock had previously closed at $90.42.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of recent analyst reports. Scotia reduced their price target 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. 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 research report on Friday, July 31st. BMO Capital Markets restated an "outperform" rating on shares of Colliers International Group in a research report on Thursday. National Bank Financial raised their price objective on Colliers International Group from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned 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 price target of $154.62.

Colliers International Group Trading Down 1.9%

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $4.53 billion, a P/E ratio of 42.22 and a beta of 1.23. The business has a 50 day moving average of $98.90 and a 200-day moving average of $100.35.

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 for the quarter, beating analysts' consensus estimates of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.72 earnings per share. The business's revenue was up 16.7% on a year-over-year basis. Analysts anticipate that Colliers International Group Inc. will post 6.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Colliers International Group by 3.4% during 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 purchasing an additional 129,144 shares in the last quarter. Spruce House Investment Management LLC boosted its position in shares of Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider's stock worth $268,387,000 after buying an additional 1,209,867 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Colliers International Group during the second quarter worth about $292,656,000. Jupiter Topco LLC bought a new position in shares of Colliers International Group during the second quarter worth about $238,809,000. Finally, Turtle Creek Asset Management Inc. grew its holdings in shares of Colliers International Group by 100.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock worth $174,611,000 after buying an additional 820,315 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

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 industries. The company provides services to occupiers, owners, investors and developers across office, industrial, retail, multifamily, hospitality and other property sectors.

Its offerings include leasing and sales brokerage, capital markets advisory, valuation and appraisal, debt and equity placement, property and facilities management, project management, workplace consulting and engineering services.

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