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

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

Wall Street Analyst Weigh In

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

Colliers International Group Trading Down 0.8%

The company has a market cap of $4.36 billion, a P/E ratio of 40.57 and a beta of 1.23. The stock’s 50 day moving average is $96.28 and its 200-day moving average is $98.89. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.61.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.79 by $0.04. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a net margin of 1.81% and a return on equity of 20.17%. Colliers International Group’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.72 EPS. Research analysts anticipate that Colliers International Group Inc. will post 6.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

A number of institutional investors have recently made changes to their positions in the company. Alberta Investment Management Corp purchased a new position in Colliers International Group in the 4th quarter worth approximately $47,799,000. Wellington Management Group LLP bought a new position in Colliers International Group in the 2nd quarter valued at approximately $41,488,000. Montrusco Bolton Investments Inc. boosted its stake in Colliers International Group by 12.5% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock valued at $15,484,000 after purchasing an additional 16,108 shares during the last quarter. Bank of America Corp DE purchased a new stake in Colliers International Group during the 2nd quarter valued at $37,034,000. Finally, BlackRock Inc. bought a new stake in shares of Colliers International Group in the 2nd quarter worth $8,692,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.

About Colliers International Group

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.