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

Key Points

• Scotiabank has raised its price target for Colliers International Group from $170.00 to $185.00, indicating a potential upside of 10.81% from the previous close.
• Several other investment firms have also increased their price targets recently, with CIBC raising it to $175.00 and Stifel Nicolaus to $180.00, reflecting positive sentiment towards the stock.
• The company reported strong quarterly earnings, with earnings per share (EPS) of $1.72, surpassing expectations and showing an 18.3% year-over-year revenue increase.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target raised by Scotiabank from $170.00 to $185.00 in a note issued to investors on Tuesday, Marketbeat reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Scotiabank's price target would suggest a potential upside of 11.57% from the stock's previous close.

Several other research firms have also recently commented on CIGI. JMP Securities assumed coverage on Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. Citizens Jmp initiated coverage on Colliers International Group in a research report on Monday, July 21st. They issued a "market perform" rating for the company. National Bankshares lifted their target price on Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their price objective on Colliers International Group from $137.00 to $181.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Finally, CIBC boosted their price target on Colliers International Group from $149.00 to $175.00 and gave the stock an "outperformer" rating in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.80.

Colliers International Group Stock Performance

NASDAQ:CIGI traded down $1.11 during trading hours on Tuesday, reaching $165.81. The company had a trading volume of 52,793 shares, compared to its average volume of 132,891. Colliers International Group has a 1-year low of $100.86 and a 1-year high of $170.65. The firm has a market cap of $8.22 billion, a PE ratio of 75.37 and a beta of 1.41. The business's 50 day moving average price is $154.16 and its 200-day moving average price is $133.53. 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 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. Colliers International Group had a return on equity of 20.82% and a net margin of 2.17%.The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts forecast that Colliers International Group will post 6.2 EPS for the current year.

Institutional Trading of Colliers International Group

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in shares of Colliers International Group by 26.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider's stock worth $40,000 after purchasing an additional 63 shares during the period. Cornerstone Investment Partners LLC grew its stake in shares of Colliers International Group by 3.6% during the 2nd quarter. Cornerstone Investment Partners LLC now owns 2,193 shares of the financial services provider's stock worth $286,000 after purchasing an additional 77 shares during the period. Central Pacific Bank Trust Division grew its stake in shares of Colliers International Group by 10.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after purchasing an additional 100 shares during the period. TCTC Holdings LLC grew 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 purchasing an additional 116 shares during the period. Finally, Vista Finance LLC grew its stake in shares of Colliers International Group by 4.1% during the 2nd quarter. Vista Finance LLC now owns 3,073 shares of the financial services provider's stock worth $401,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 80.09% of the company's stock.

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.