Colliers International Group (NASDAQ:CIGI) Upgraded by BidaskClub to Strong-Buy

BidaskClub upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

CIGI has been the subject of a number of other reports. BMO Capital Markets set a $81.00 price objective on Colliers International Group and gave the stock a buy rating in a research note on Wednesday, July 31st. Raymond James set a $85.00 price objective on Colliers International Group and gave the stock an outperform rating in a research note on Wednesday, July 31st. ValuEngine cut Colliers International Group from a buy rating to a hold rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research cut Colliers International Group from a hold rating to a strong sell rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $78.33.

NASDAQ CIGI opened at $72.43 on Wednesday. The stock has a fifty day moving average of $68.72 and a 200-day moving average of $67.85. The stock has a market capitalization of $2.71 billion, a P/E ratio of 29.80 and a beta of 1.59. Colliers International Group has a 52 week low of $52.01 and a 52 week high of $80.35. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.88 and a current ratio of 0.88.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). Colliers International Group had a return on equity of 23.99% and a net margin of 3.15%. The company had revenue of $745.50 million for the quarter, compared to analyst estimates of $750.85 million. During the same period last year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Colliers International Group will post 2.88 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in Colliers International Group by 1.5% in the second quarter. Parametric Portfolio Associates LLC now owns 11,073 shares of the financial services provider’s stock valued at $793,000 after acquiring an additional 167 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Colliers International Group in the second quarter valued at about $39,000. Bank of America Corp DE grew its stake in Colliers International Group by 2.1% in the second quarter. Bank of America Corp DE now owns 29,983 shares of the financial services provider’s stock valued at $2,147,000 after acquiring an additional 611 shares during the period. Scotia Capital Inc. grew its stake in Colliers International Group by 17.0% in the second quarter. Scotia Capital Inc. now owns 5,603 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 815 shares during the period. Finally, Swiss National Bank grew its stake in Colliers International Group by 2.3% in the second quarter. Swiss National Bank now owns 67,600 shares of the financial services provider’s stock valued at $4,833,000 after acquiring an additional 1,500 shares during the period. 71.52% of the stock is owned by institutional investors and hedge funds.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

Read More: How to trade the most active stocks

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

Receive News & Ratings for Colliers International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group and related companies with MarketBeat.com's FREE daily email newsletter.