Colliers International Group Inc. (NASDAQ:CIGI) to Issue $0.15 Semi-annual Dividend

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) announced a semi-annual dividend on Wednesday, May 14th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.15 per share by the financial services provider on Monday, July 14th. This represents a dividend yield of 0.2%. The ex-dividend date is Monday, June 30th.

Colliers International Group has raised its dividend by an average of 14.5% annually over the last three years. Colliers International Group has a payout ratio of 4.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Colliers International Group to earn $7.02 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 4.3%.

Colliers International Group Stock Down 1.5%

Shares of NASDAQ:CIGI opened at $126.93 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average of $119.00 and a two-hundred day moving average of $132.98. The stock has a market cap of $6.26 billion, a P/E ratio of 39.79 and a beta of 1.38. Colliers International Group has a 52-week low of $100.86 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. On average, research analysts expect that Colliers International Group will post 6.2 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on CIGI. JPMorgan Chase & Co. cut their target price on Colliers International Group from $167.00 to $142.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Royal Bank of Canada lifted their price target on shares of Colliers International Group from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Stifel Nicolaus reduced their price target on shares of Colliers International Group from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. BMO Capital Markets dropped their target price on shares of Colliers International Group from $177.00 to $172.00 and set a “market perform” rating for the company in a report on Friday, February 7th. Finally, National Bankshares lowered their price target on Colliers International Group from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.80.

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.