The company is so far trading up by 2.47% since yesterday’s close of $56.65. The stock is trading at $58.05 a tad above $53.35, the 50 day moving average and which is marginally over the 200 day moving average of $46.16. The 50 day moving average moved up $4.30 and the 200 day average moved up $11.49.
Traders are feeling more bullish lately if you take into consideration the change in short interest. The stock experienced a fall in short interest of -30.10% as of May 31, 2017 from the last reporting period. Short interest fell 17,706 over that period. With short interest at 41,113 and short average daily volume at 27,257, the short-interest ratio is 1.5 and the percentage of shorted shares was 0.00% on May 31.
Colliers International Group Inc., launched on July 31, 1988, is involved in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. The Business’s segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate. The Company is involved in the transaction brokerage business, which provides services in sales and leasing for commercial clients. The sales and lease brokerage division has over 3,700 brokers. This division executes transactions across a client base, including corporations, financial institutions, governments and individuals. The Company provides services for sales, leases and mortgages in various areas, such as landlord representation, tenant representation, and capital markets and investment services..
These firms have also modified their investment in CIGI. Mawer Investment Management Ltd. cut its stake by shedding 202,343 shares a decrease of 24.4% as of 03/31/2017. Mawer Investment Management Ltd. controls 626,856 shares worth $29,612,000. The value of the position overall is down by 3.0%. Mackenzie Financial Corp trimmed its position by selling 58,600 shares a decrease of 34.4% from 12/31/2016 to 03/31/2017. Mackenzie Financial Corp currently owns 111,769 shares with a value of $5,275,000. The total value of its holdings decreased 15.9%.
As of quarter end Morgan Stanley had acquired a total of 2,115 shares growing its stake by 69.0%. The value in dollars went from $113,000 to $244,000 a change of $131,000 quarter to quarter. As of the end of the quarter Tower Research Capital LLC (trc) had bought 2,439 shares growing its holdings by 290.7%. The value of the investment in (CIGI) increased from $31,000 to $155,000 a change of 400.0% since the last quarter.
RBC Capital issued its first research report on the stock by announcing an initial rating of “Outperform”. RBC Capital downgraded the stock and lowered the price target on February 1 cutting the price target from $54.00 to $47.00 and moving the rating from “Outperform” to “Sector Perform”.
On February 1 the company was downgraded to “Sector Perform” from “Outperform” with a current price target of $47.00 by RBC Capital. On June 3, 2015 CIBC started covering the stock with a rating of “Sector Perform” and price target of $42.50.
The company recently announced a dividend paid on Wednesday the 12th of July 2017. The dividend payment was $0.025 per share for the quarter which comes to $0.10 on an annualized basis. This dividend represents a yeild of $0.28 which is the dividend as a percentage of the current share price. The ex-dividend date was Wednesday the 28th of June 2017.
The company currently has a P/E ratio of 29.73 and the market value is 2.24B. In the latest earnings report the EPS was $1.94 and is projected to be $2.82 for the current year with 38,821,000 shares now outstanding. Next quarter’s EPS is estimated at $0.55 and the next full year EPS is projected to be $3.07.