Colliers International Group (NASDAQ:CIGI) Price Target Raised to $180.00 at Raymond James Financial

Key Points

• Raymond James Financial raised its price target for Colliers International Group from $170.00 to $180.00, indicating a potential upside of 18.84% from the stock's previous close.
• Colliers reported a net margin of 2.92% and a revenue of $1.37 billion for the last quarter, surpassing analysts' expectations of $1.29 billion.
• The company has a consensus rating of "Moderate Buy" from equities research analysts, with an average price target of $166.90.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target lifted by analysts at Raymond James Financial from $170.00 to $180.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Raymond James Financial's price target suggests a potential upside of 18.84% from the stock's previous close.

Several other research analysts have also recently issued reports on the company. JMP Securities assumed coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp began coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. National Bankshares upped their target price on shares of Colliers International Group from $169.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Stifel Nicolaus upped their price target on Colliers International Group from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $166.90.

Colliers International Group Stock Performance

Shares of CIGI traded up $0.76 during mid-day trading on Friday, reaching $151.47. 98,951 shares of the company's stock were exchanged, compared to its average volume of 132,098. The business's fifty day simple moving average is $131.44 and its 200-day simple moving average is $127.54. The stock has a market capitalization of $7.49 billion, a PE ratio of 53.17 and a beta of 1.39. Colliers International Group has a 52-week low of $100.86 and a 52-week high of $156.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.17 and a quick ratio of 1.17.

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. Colliers International Group had a net margin of 2.92% and a return on equity of 20.20%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The business's revenue was up 18.3% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group will post 6.2 earnings per share for the current year.

Hedge Funds Weigh In On Colliers International Group

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

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.

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