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

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) reached a new 52-week low during trading on Tuesday . The company traded as low as $94.15 and last traded at $94.9540, with a volume of 149279 shares traded. The stock had previously closed at $95.99.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CIGI. Royal Bank Of Canada cut their target price on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Raymond James Financial cut their target price on shares of Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday. Wall Street Zen lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, National Bank Financial lowered their price target on shares of Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. One 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 issued a Sell rating to the company. According to MarketBeat, Colliers International Group currently has an average rating of “Moderate Buy” and an average target price of $162.89.

Colliers International Group Stock Performance

The firm’s fifty day moving average price is $107.41 and its 200 day moving average price is $129.12. The company has a current ratio of 1.23, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 57.85 and a beta of 1.31.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Analysts forecast that Colliers International Group Inc. will post 6.39 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s dividend payout ratio is currently 18.52%.

Institutional Investors Weigh In On Colliers International Group

A number of large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of Colliers International Group by 26.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after buying an additional 63 shares during the last quarter. Stonegate Investment Group LLC grew its position in shares of Colliers International Group by 4.2% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,900 shares of the financial services provider’s stock valued at $297,000 after buying an additional 76 shares during the last quarter. Cooper Investors PTY Ltd. grew its position in shares of Colliers International Group by 0.4% in the 4th quarter. Cooper Investors PTY Ltd. now owns 30,217 shares of the financial services provider’s stock valued at $4,442,000 after buying an additional 114 shares during the last quarter. Arax Advisory Partners grew its position in shares of 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 buying an additional 126 shares during the last quarter. Finally, Versor Investments LP grew its position in shares of 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 valued at $355,000 after buying an additional 142 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

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.