Colliers International Group (NASDAQ:CIGI) Sets New 1-Year High - Here's Why

Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $156.12 and last traded at $156.12, with a volume of 853 shares changing hands. The stock had previously closed at $155.43.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CIGI shares. National Bankshares upped their target price on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a "sector perform" rating in a research note on Friday, August 2nd. Raymond James lowered shares of Colliers International Group from a "strong-buy" rating to an "outperform" rating and raised their price objective for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Stifel Nicolaus increased their target price on Colliers International Group from $155.00 to $160.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Royal Bank of Canada lifted their price target on Colliers International Group from $160.00 to $174.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Finally, BMO Capital Markets increased their price objective on Colliers International Group from $163.00 to $164.00 and gave the company an "outperform" rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Colliers International Group has a consensus rating of "Moderate Buy" and an average target price of $158.33.

Colliers International Group Price Performance

The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 75.82 and a beta of 1.49. The stock has a 50-day moving average price of $146.70 and a 200 day moving average price of $127.57.

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

Institutional Trading of Colliers International Group

A number of large investors have recently bought and sold shares of CIGI. Argent Capital Management LLC raised its holdings in shares of Colliers International Group by 30.0% in the third quarter. Argent Capital Management LLC now owns 38,477 shares of the financial services provider's stock valued at $5,841,000 after buying an additional 8,869 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of 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 during the last quarter. Whittier Trust Co. grew its stake in shares of Colliers International Group by 8.4% in the 3rd 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 last quarter. Blue Trust Inc. increased its holdings in shares of 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. raised 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 during the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

About Colliers International Group

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.