Colliers International Group (NASDAQ:CIGI) Sees Large Volume Increase – Should You Buy?

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) shares saw unusually-strong trading volume on Wednesday . Approximately 174,589 shares were traded during mid-day trading, an increase of 110% from the previous session’s volume of 83,056 shares.The stock last traded at $135.30 and had previously closed at $136.07.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CIGI shares. The Goldman Sachs Group began coverage on shares of Colliers International Group in a research note on Friday, December 6th. They set a “neutral” rating and a $170.00 price objective on the stock. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Scotiabank boosted their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. initiated coverage on Colliers International Group in a report on Monday, December 16th. They issued a “neutral” rating and a $167.00 target price on the stock. Finally, National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and a consensus target price of $162.44.

Colliers International Group Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The firm has a market cap of $6.60 billion, a P/E ratio of 41.68 and a beta of 1.49. The business has a 50-day moving average of $144.59 and a two-hundred day moving average of $140.39.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Colliers International Group Inc. will post 5.44 earnings per share for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s payout ratio is 9.55%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after acquiring an additional 340,691 shares in the last quarter. Empowered Funds LLC increased its holdings in Colliers International Group by 60.5% in the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 4,678 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in Colliers International Group in the third quarter valued at approximately $2,581,000. Public Employees Retirement System of Ohio bought a new position in shares of Colliers International Group during the 3rd quarter worth approximately $3,543,000. Finally, HighTower Advisors LLC grew its position in shares of Colliers International Group by 13.6% during the 3rd quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock worth $323,000 after buying an additional 254 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

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.