Colliers International Group (NASDAQ:CIGI) Stock Gets Price Target Reduction from National Bank Financial

Key Points

• National Bank Financial lowered Colliers International Group’s price target to $109 from $110 while maintaining an “outperform” rating, implying approximately 20% upside from the reported $90.73 share price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of $154.50, despite recent target cuts from Scotiabank.
• Colliers exceeded quarterly EPS expectations, reporting $1.83 versus the $1.79 consensus, while revenue reached $1.38 billion and increased 16.7% year over year.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target decreased by analysts at National Bank Financial from $110.00 to $109.00 in a research report issued on Thursday, BayStreet reports. The firm presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target would suggest a potential upside of 20.13% from the company's current price.

A number of other equities analysts also recently issued reports on CIGI. Scotiabank dropped their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Scotia decreased 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. BMO Capital Markets reiterated an "outperform" rating on shares of Colliers International Group in a research note on Thursday, September 24th. Finally, Weiss Ratings raised shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $154.50.

Colliers International Group Stock Performance

Colliers International Group stock traded up $4.62 during mid-day trading on Thursday, reaching $90.73. 156,601 shares of the stock traded hands, compared to its average volume of 292,388. The stock has a market capitalization of $4.64 billion, a PE ratio of 43.09 and a beta of 1.23. The company has a debt-to-equity ratio of 1.61, a current ratio of 1.19 and a quick ratio of 1.19. Colliers International Group has a 12-month low of $83.21 and a 12-month high of $171.51. The business's 50-day moving average is $95.97 and its 200-day moving average is $98.80.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts' consensus estimates of $1.79 by $0.04. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%. Colliers International Group's revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. As a group, sell-side analysts predict that Colliers International Group will post 6.92 EPS for the current fiscal year.

Institutional Trading of Colliers International Group

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in shares of Colliers International Group during the second quarter worth $292,656,000. Jupiter Topco LLC bought a new stake in Colliers International Group in the 2nd quarter valued at $238,809,000. Spruce House Investment Management LLC increased its holdings in Colliers International Group by 93.0% in the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider's stock valued at $268,387,000 after acquiring an additional 1,209,867 shares during the last quarter. Turtle Creek Asset Management Inc. increased its holdings in Colliers International Group by 100.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock valued at $174,611,000 after acquiring an additional 820,315 shares during the last quarter. Finally, Cibc World Market Inc. purchased a new stake in Colliers International Group in the 2nd quarter worth $56,724,000. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.

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