Colliers International Group (NASDAQ:CIGI) Reaches New 1-Year High – What’s Next?

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) reached a new 52-week high on Monday . The company traded as high as $156.12 and last traded at $156.12, with a volume of 853 shares. The stock had previously closed at $155.43.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. National Bankshares boosted their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Stifel Nicolaus increased their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Scotiabank boosted their price objective on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and a consensus target price of $158.33.

Colliers International Group Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day simple moving average of $146.70 and a 200 day simple moving average of $127.57. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 75.82 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $1.21 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Colliers International Group Inc. will post 5.66 EPS for the current year.

Hedge Funds Weigh In On Colliers International Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Argent Capital Management LLC grew its stake in Colliers International Group by 30.0% in the 3rd quarter. Argent Capital Management LLC now owns 38,477 shares of the financial services provider’s stock worth $5,841,000 after acquiring an additional 8,869 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in Colliers International Group by 26.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 124 shares in the last quarter. Whittier Trust Co. raised its position in Colliers International Group by 8.4% in the third quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 277 shares during the period. Blue Trust Inc. raised its position in Colliers International Group by 197.8% in the third quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 619 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Colliers International Group by 7.2% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 86,011 shares of the financial services provider’s stock worth $13,068,000 after purchasing an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.