Colliers International Group (NASDAQ:CIGI) Given New $148.00 Price Target at BMO Capital Markets

Key Points

• BMO Capital Markets cut its price target on Colliers from $180 to $148 while keeping an "outperform" rating, a target that implies roughly a 47.7% upside from current levels; the consensus analyst view remains a "Moderate Buy" with an average price target of $162.89.
• Q1 results missed expectations—EPS $0.89 vs. $0.92 estimate and revenue $1.13B vs. $1.26B—though revenue was up 15.1% year-over-year; shares trade near $100 with a P/E around 49.9 and a market cap of about $5.1 billion.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price objective reduced by investment analysts at BMO Capital Markets from $180.00 to $148.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the financial services provider's stock. BMO Capital Markets' price target points to a potential upside of 47.72% from the stock's current price.

CIGI has been the topic of several other reports. Zacks Research raised Colliers International Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Scotia dropped their price target on Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen lowered Colliers International Group from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. Raymond James Financial dropped their price target on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada dropped their price target on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $162.89.

Colliers International Group Trading Up 3.3%

Shares of Colliers International Group stock traded up $3.19 on Wednesday, reaching $100.19. 118,335 shares of the company were exchanged, compared to its average volume of 340,047. The stock has a fifty day moving average price of $110.04 and a 200-day moving average price of $132.26. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 49.85 and a beta of 1.31. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.06. Colliers International Group has a fifty-two week low of $94.57 and a fifty-two week high of $171.51.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.03). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.26 billion. Colliers International Group had a return on equity of 20.43% and a net margin of 1.85%.The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. On average, analysts expect that Colliers International Group will post 6.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Montrusco Bolton Investments Inc. increased its position in Colliers International Group by 12.5% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider's stock worth $15,484,000 after purchasing an additional 16,108 shares during the last quarter. Louisbourg Investments Inc. increased its position in Colliers International Group by 46.6% in the 1st quarter. Louisbourg Investments Inc. now owns 75,882 shares of the financial services provider's stock worth $8,097,000 after purchasing an additional 24,110 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Colliers International Group by 9.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 8,518 shares of the financial services provider's stock worth $908,000 after purchasing an additional 726 shares during the last quarter. Cidel Asset Management Inc. increased its position in Colliers International Group by 189.4% in the 1st quarter. Cidel Asset Management Inc. now owns 127,860 shares of the financial services provider's stock worth $13,627,000 after purchasing an additional 83,684 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN increased its position in Colliers International Group by 1.7% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 138,731 shares of the financial services provider's stock worth $14,829,000 after purchasing an additional 2,383 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

About Colliers International Group

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.

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