Colliers International Group (NASDAQ:CIGI) Price Target Raised to $110.00

Key Points

• National Bank Financial raised Colliers International Group’s price target from $109 to $110 and maintained an “outperform” rating, implying 11.44% upside from the reported $98.71 share price.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $157.56, despite several firms lowering their targets and one analyst issuing a sell rating.
• Colliers beat quarterly earnings expectations with $1.83 in EPS versus $1.79 estimated, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus estimate. Institutional investors own approximately 80.09% of the company.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target upped by National Bank Financial from $109.00 to $110.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price target would indicate a potential upside of 11.44% from the company's current price.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Raymond James Financial decreased their price target on shares of Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotia cut their price objective on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a research report on Friday. Finally, Royal Bank Of Canada reduced their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 6th. One investment 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 issued a Sell rating to the company's stock. According to data from MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $157.56.

Colliers International Group Trading Down 0.7%

Shares of NASDAQ:CIGI traded down $0.67 during trading on Friday, reaching $98.71. 109,779 shares of the stock were exchanged, compared to its average volume of 310,487. The firm's 50-day moving average price is $96.57 and its 200 day moving average price is $109.24. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 60.57 and a beta of 1.26. Colliers International Group has a 12-month low of $88.38 and a 12-month high of $171.51. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating 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. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. Colliers International Group's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.72 earnings per share. On average, sell-side analysts anticipate that Colliers International Group will post 6.82 earnings per share for the current fiscal year.

Institutional Trading of Colliers International Group

A number of hedge funds have recently made changes to their positions in CIGI. Goldman Sachs Group Inc. raised its holdings in Colliers International Group by 78.1% in the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider's stock valued at $15,698,000 after acquiring an additional 56,755 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Colliers International Group by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider's stock worth $5,508,000 after acquiring an additional 505 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group in the 2nd quarter worth about $39,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Colliers International Group by 190.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider's stock valued at $1,055,000 after purchasing an additional 5,286 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider's stock worth $37,232,000 after purchasing an additional 1,470 shares during the last quarter. Institutional investors and hedge funds own 80.09% of the company's stock.

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.

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