Colliers International Group (NASDAQ:CIGI) Given New $145.00 Price Target at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target reduced by research analysts at Scotiabank from $150.00 to $145.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 48.70% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Raymond James Financial dropped their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada decreased their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Scotia dropped their price objective on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. National Bank Financial lowered their price target on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Zacks Research raised shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.00.

Colliers International Group Stock Performance

CIGI traded down $1.87 during trading on Friday, hitting $97.51. The company’s stock had a trading volume of 37,916 shares, compared to its average volume of 309,994. The business’s 50 day simple moving average is $96.57 and its 200-day simple moving average is $109.24. The firm has a market cap of $4.98 billion, a PE ratio of 60.16 and a beta of 1.26. Colliers International Group has a one year low of $88.38 and a one year high of $171.51. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 EPS. As a group, sell-side analysts predict that Colliers International Group will post 6.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

A number of large investors have recently made changes to their positions in the company. Cooper Investors PTY Ltd. raised its position in Colliers International Group by 10.3% in the 2nd quarter. Cooper Investors PTY Ltd. now owns 34,610 shares of the financial services provider’s stock worth $3,246,000 after purchasing an additional 3,231 shares during the period. NewEdge Advisors LLC grew its stake in shares of Colliers International Group by 5.9% during the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider’s stock valued at $240,000 after buying an additional 126 shares during the last quarter. Argent Capital Management LLC raised its holdings in shares of Colliers International Group by 51.6% in the first quarter. Argent Capital Management LLC now owns 64,980 shares of the financial services provider’s stock worth $6,946,000 after buying an additional 22,118 shares during the period. Turtle Creek Asset Management Inc. raised its holdings in shares of Colliers International Group by 100.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock worth $174,611,000 after buying an additional 820,315 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Colliers International Group by 45.0% during the 1st quarter. Bank of America Corp DE now owns 75,657 shares of the financial services provider’s stock worth $8,087,000 after acquiring an additional 23,473 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.