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

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) hit a new 52-week low during trading on Thursday . The stock traded as low as $90.60 and last traded at $91.0750, with a volume of 82228 shares traded. The stock had previously closed at $92.89.

Wall Street Analyst Weigh In

CIGI has been the topic of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. National Bank Financial decreased their price target on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Scotia lowered their price target on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings downgraded Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $175.00 price objective on Colliers International Group in a report on Friday, March 13th. One investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.89.

Colliers International Group Price Performance

The company has a 50 day moving average of $101.90 and a 200 day moving average of $120.02. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 56.00 and a beta of 1.26. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23.

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

Colliers International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a yield of 0.7%. Colliers International Group’s dividend payout ratio (DPR) is 18.52%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CIGI. Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group during the 3rd quarter valued at approximately $26,000. Arax Advisory Partners raised its holdings in Colliers International Group by 137.0% in the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 126 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Colliers International Group in the fourth quarter valued at $32,000. JPMorgan Chase & Co. bought a new position in Colliers International Group during the 2nd quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.