Colliers International Group (NASDAQ:CIGI) Shares Up 8.5% – What’s Next?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) rose 8.5% during trading on Wednesday . The company traded as high as $100.80 and last traded at $103.1740. Approximately 16,181 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 316,233 shares. The stock had previously closed at $95.09.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CIGI shares. Scotia decreased their price target on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. Zacks Research raised Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. National Bank Financial reduced their target price on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday. Weiss Ratings downgraded shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Raymond James Financial lowered their price target on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.11.

Colliers International Group Stock Performance

The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day simple moving average of $95.72 and a two-hundred day simple moving average of $112.58. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 63.09 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.01). The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.26 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The business’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business posted $0.87 earnings per share. Analysts forecast that Colliers International Group Inc. will post 6.82 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Colliers International Group’s payout ratio is presently 18.52%.

Hedge Funds Weigh In On Colliers International Group

Institutional investors have recently added to or reduced their stakes in the business. Cooper Investors PTY Ltd. boosted its holdings in shares of Colliers International Group by 10.3% during the 2nd quarter. Cooper Investors PTY Ltd. now owns 34,610 shares of the financial services provider’s stock worth $3,246,000 after buying an additional 3,231 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of 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 acquiring an additional 126 shares in the last quarter. Argent Capital Management LLC lifted its position in shares of Colliers International Group by 51.6% during the 1st quarter. Argent Capital Management LLC now owns 64,980 shares of the financial services provider’s stock valued at $6,946,000 after acquiring an additional 22,118 shares during the period. Turtle Creek Asset Management Inc. lifted its position in shares of 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. Finally, Bank of America Corp DE lifted its position in shares of Colliers International Group by 45.0% during the 1st quarter. Bank of America Corp DE now owns 75,657 shares of the financial services provider’s stock valued at $8,087,000 after acquiring an additional 23,473 shares during the period. 80.09% of the stock is 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.