Colliers International Group (NASDAQ:CIGI) Price Target Raised to $175.00

Key Points

• CIBC has raised its price target for Colliers International Group from $149.00 to $175.00, indicating a potential upside of 16.02% based on the stock's previous close.
• The company reported better-than-expected earnings of $1.72 per share for the last quarter, exceeding analysts' estimates of $1.52, and generated revenue of $1.37 billion, surpassing expectations of $1.29 billion.
• Currently, Colliers International Group has a consensus rating of "Moderate Buy" from analysts, with an average target price of $168.40.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target lifted by stock analysts at CIBC from $149.00 to $175.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperformer" rating on the financial services provider's stock. CIBC's price objective suggests a potential upside of 16.02% from the stock's previous close.

A number of other analysts have also recently weighed in on CIGI. JPMorgan Chase & Co. cut their price target on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. National Bankshares boosted their price target on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday. Stifel Nicolaus boosted their target price on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday. Royal Bank Of Canada boosted their price target on Colliers International Group from $175.00 to $185.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, JMP Securities began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating on the stock. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Stock Up 0.1%

NASDAQ:CIGI traded up $0.12 during mid-day trading on Friday, hitting $150.83. 173,444 shares of the company's stock traded hands, compared to its average volume of 132,635. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average of $131.44 and a 200 day moving average of $127.54. The company has a market capitalization of $7.46 billion, a P/E ratio of 52.92 and a beta of 1.39. Colliers International Group has a twelve month low of $100.86 and a twelve month high of $156.96.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.20. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a return on equity of 20.20% and a net margin of 2.92%. The business's revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. On average, analysts forecast that Colliers International Group will post 6.2 EPS for the current year.

Institutional Trading of Colliers International Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MQS Management LLC bought a new stake in shares of Colliers International Group during the 1st quarter valued at approximately $527,000. Millennium Management LLC purchased a new stake in shares of Colliers International Group in the fourth quarter valued at about $3,587,000. Massachusetts Financial Services Co. MA increased its holdings in Colliers International Group by 4.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock worth $12,869,000 after buying an additional 4,153 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Colliers International Group by 1.1% during the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock worth $84,548,000 after buying an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in Colliers International Group by 102.5% during the fourth quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after purchasing an additional 47,195 shares during the period. Institutional investors and hedge funds own 80.09% of the company's stock.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.

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