Colliers International Group (NASDAQ:CIGI) Price Target Raised to $185.00

Key Points

• Royal Bank of Canada has raised its price target for Colliers International Group from $175.00 to $185.00, indicating a potential upside of 22.48% from the current stock price.
• Colliers reported $1.72 earnings per share for the latest quarter, exceeding expectations, alongside a revenue of $1.37 billion, which reflects an 18.3% year-over-year growth.
• Investment analysts have assigned a consensus rating of "Moderate Buy" to the stock, with an average price target of $161.80.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its target price lifted by equities research analysts at Royal Bank Of Canada from $175.00 to $185.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank Of Canada's target price would suggest a potential upside of 22.48% from the company's current price.

Other equities research analysts also recently issued research reports about the stock. Citizens Jmp started coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. 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 report on Thursday, April 10th. Stifel Nicolaus decreased their price target on shares of Colliers International Group from $165.00 to $160.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. JMP Securities assumed coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Scotiabank reduced their target price on Colliers International Group from $165.00 to $155.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Six investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $161.80.

Colliers International Group Trading Up 0.2%

CIGI traded up $0.33 during trading on Friday, hitting $151.04. The company's stock had a trading volume of 61,069 shares, compared to its average volume of 131,815. Colliers International Group has a twelve month low of $100.86 and a twelve month high of $156.96. The stock has a market cap of $7.47 billion, a PE ratio of 53.00 and a beta of 1.39. The firm's 50 day moving average price is $131.44 and its 200-day moving average price is $127.54. 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 issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share (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 the consensus estimate of $1.29 billion. Colliers International Group had a net margin of 2.92% and a return on equity of 20.20%. Colliers International Group's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. On average, analysts expect that Colliers International Group will post 6.2 earnings per share for the current year.

Institutional Trading of Colliers International Group

Hedge funds have recently added to or reduced their stakes in the business. MQS Management LLC bought a new position in Colliers International Group in the first quarter valued at approximately $527,000. Millennium Management LLC acquired a new stake in shares of Colliers International Group in the fourth quarter valued at approximately $3,587,000. Massachusetts Financial Services Co. MA grew its position in Colliers International Group by 4.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock valued at $12,869,000 after purchasing an additional 4,153 shares in the last quarter. Victory Capital Management Inc. increased its stake in Colliers International Group by 1.1% in the 1st quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock valued at $84,548,000 after buying an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Colliers International Group by 102.5% during the 4th quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider's stock worth $12,678,000 after buying an additional 47,195 shares in 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 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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