Royal Bank Of Canada Raises Colliers International Group (NASDAQ:CIGI) Price Target 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 - Free Report) TSE: CIGI had its target price upped by Royal Bank Of Canada from $175.00 to $185.00 in a research note issued to investors on Friday morning, Marketbeat.com reports. The brokerage currently has an outperform rating on the financial services provider's stock.

CIGI has been the topic of several other research reports. JMP Securities initiated coverage on Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. Citizens Jmp initiated coverage on Colliers International Group in a research report on Monday, July 21st. They set a "market perform" rating on the stock. JPMorgan Chase & Co. cut their target price on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Scotiabank cut their price target on Colliers International Group from $165.00 to $155.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Stifel Nicolaus dropped their price target on Colliers International Group from $165.00 to $160.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Stock Up 1.9%

Shares of NASDAQ CIGI traded up $2.91 during mid-day trading on Friday, reaching $155.00. 57,240 shares of the company's stock were exchanged, compared to its average volume of 131,970. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 70.45 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 business has a fifty day simple moving average of $132.78 and a 200 day simple moving average of $127.68. 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 issued its earnings results on Thursday, July 31st. The financial services provider reported $1.72 EPS for the quarter, topping 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 return on equity of 21.13% and a net margin of 2.17%. The firm's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. As a group, equities analysts expect that Colliers International Group will post 6.2 EPS for the current fiscal year.

Colliers International Group Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, July 14th. Stockholders of record on Monday, June 30th were issued a dividend of $0.15 per share. This represents a dividend yield of 20.0%. The ex-dividend date was Monday, June 30th. Colliers International Group's dividend payout ratio is currently 13.64%.

Hedge Funds Weigh In On Colliers International Group

Hedge funds have recently made changes to their positions in the company. MQS Management LLC acquired a new position in shares of Colliers International Group in the 1st quarter valued at $527,000. Millennium Management LLC acquired a new stake in shares of Colliers International Group during the 4th quarter valued at about $3,587,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Colliers International Group by 4.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider's stock worth $12,869,000 after purchasing an additional 4,153 shares during the last quarter. Victory Capital Management Inc. raised its position in Colliers International Group by 1.1% in the first quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider's stock valued at $84,548,000 after purchasing an additional 7,815 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of 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 buying an additional 47,195 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

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.