CIBC Increases Colliers International Group (NASDAQ:CIGI) Price Target 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 target price increased by equities researchers at CIBC from $149.00 to $175.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "outperformer" rating on the financial services provider's stock. CIBC's price target suggests a potential upside of 12.36% from the company's current price.

A number of other analysts also recently issued reports on the stock. National Bankshares lifted their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a report on Friday. JPMorgan Chase & Co. cut their target price on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Royal Bank Of Canada lifted 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. Stifel Nicolaus lifted their price target on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Scotiabank lifted their price target on Colliers International Group from $155.00 to $170.00 and gave the stock a "sector outperform" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $168.40.

Colliers International Group Stock Performance

Shares of CIGI stock traded up $3.66 during trading on Friday, reaching $155.75. 61,478 shares of the company's stock traded hands, compared to its average volume of 132,053. The company has a market capitalization of $7.71 billion, a P/E ratio of 70.56 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.24. The firm's 50-day moving average is $132.78 and its 200 day moving average is $127.68. Colliers International Group has a 1 year low of $100.86 and a 1 year high of $156.96.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.52 by $0.20. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 21.13%. Colliers International Group's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.36 earnings per share. Equities research analysts expect that Colliers International Group will post 6.2 EPS for the current year.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors have recently bought and sold shares of the business. TCTC Holdings LLC raised its stake in shares of Colliers International Group by 114.9% during the 1st quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock worth $26,000 after buying an additional 116 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group during the 1st quarter worth approximately $33,000. Tower Research Capital LLC TRC increased its stake in Colliers International Group by 1,752.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after buying an additional 298 shares during the period. State of Wyoming purchased a new position in Colliers International Group in the first quarter worth approximately $52,000. Finally, Central Pacific Bank Trust Division increased its stake in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock valued at $133,000 after purchasing an additional 100 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

About Colliers International Group

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.