Shares of Colliers International Group Inc. (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) hit 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 trading hands. The stock had previously closed at $95.99.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Raymond James Financial dropped their price target on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotia decreased their target price on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research report on Wednesday, April 15th. Zacks Research upgraded shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. National Bank Financial decreased their target price on shares of Colliers International Group from $160.00 to $143.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Wall Street Zen cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.89.
Colliers International Group Stock Down 0.9%
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The business had revenue of $1.13 billion for 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 company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. As a group, equities research analysts forecast that Colliers International Group Inc. will post 6.39 earnings per share for the current year.
Colliers International Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, June 30th. Colliers International Group’s dividend payout ratio (DPR) is presently 18.52%.
Institutional Investors Weigh In On Colliers International Group
Several hedge funds have recently made changes to their positions in CIGI. Durable Capital Partners LP lifted its position in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock worth $473,273,000 after buying an additional 652,744 shares in the last quarter. Norges Bank purchased a new stake in Colliers International Group in the 4th quarter worth approximately $84,906,000. Bank of Montreal Can lifted its position in Colliers International Group by 69.0% in the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock worth $158,274,000 after buying an additional 439,607 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Colliers International Group by 114,621.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,165 shares of the financial services provider’s stock worth $53,762,000 after buying an additional 343,865 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in Colliers International Group in the 4th quarter worth approximately $47,799,000. 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 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.
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