Colliers International Group Inc. (NASDAQ:CIGI) Stock Has Average Target Price of $151.00

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $151.00.

Several equities analysts recently issued reports on the company. BMO Capital Markets restated an “outperform” rating on shares of Colliers International Group in a research note on Thursday, September 24th. National Bank Financial decreased their price objective on shares of Colliers International Group from $110.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Scotiabank lowered their target price on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Weiss Ratings raised shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a report on Thursday, August 6th. Finally, Scotia reduced their price target on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 31st.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $93.07 on Friday. The company’s 50-day moving average price is $94.23 and its 200 day moving average price is $105.39. Colliers International Group has a 52 week low of $83.21 and a 52 week high of $166.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. The business’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. Equities research analysts forecast that Colliers International Group will post 6.90 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norwood Investment Partners LP acquired a new position in Colliers International Group in the second quarter worth approximately $1,989,540,000. JB Capital Partners LP acquired a new stake in shares of Colliers International Group during the 2nd quarter valued at $1,435,879,000. Royal Bank of Canada lifted its position in shares of Colliers International Group by 3.4% during the 1st quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider’s stock valued at $424,409,000 after acquiring an additional 129,144 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Colliers International Group during the 2nd quarter worth $292,656,000. Finally, Spruce House Investment Management LLC boosted its stake in shares of Colliers International Group by 93.0% during the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after acquiring an additional 1,209,867 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related business services. The company serves corporate, institutional and private clients through a broad platform that includes leasing, capital markets, valuation and advisory services.

Its other activities include property, facilities and project management, engineering and consulting services, and real estate investment management. These services are designed to help clients manage, develop, lease, acquire and dispose of commercial properties and portfolios across a range of sectors.

Colliers operates across the Americas, Asia Pacific and Europe, the Middle East and Africa through a combination of company-owned operations and affiliated offices.