Colliers International Group Inc. (NASDAQ:CIGI) Stock Now Rated "Moderate Buy" by Sell-Side Brokerages

Key Points

• Analysts rate Colliers International Group “Moderate Buy”: Seven analysts recommend buying the stock, two recommend holding it, and one gives it a strong-buy rating. The average 12-month price target is $154.62.
• Institutional ownership is substantial: Major investors, including Manufacturers Life Insurance, Jupiter Topco, Spruce House and Turtle Creek, recently increased or initiated positions; institutions collectively own 80.09% of the company.
• Shares remain well below their 52-week high: CIGI opened at $90.04, compared with a 52-week range of $87.36 to $171.51. In its latest quarter, the company exceeded EPS expectations ($1.83 versus $1.79), while revenue rose 16.7% year over year but came in below estimates.

Shares of Colliers International Group Inc. (NASDAQ:CIGI - Get Free Report) TSE: CIGI have earned an average rating of "Moderate Buy" from the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $154.62.

A number of equities analysts recently issued reports on the company. Scotia cut their target price on Colliers International Group from $150.00 to $145.00 and set a "sector outperform" rating on the stock in a report on Friday, July 31st. BMO Capital Markets restated an "outperform" rating on shares of Colliers International Group in a research note on Thursday, September 24th. National Bank Financial boosted their price target on shares of Colliers International Group from $109.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Colliers International Group from a "sell (d)" rating to a "hold (c-)" rating in a report on Thursday, August 6th. Finally, Scotiabank dropped their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in shares of Colliers International Group in the second quarter worth approximately $292,656,000. Jupiter Topco LLC bought a new stake in Colliers International Group during the second quarter worth $238,809,000. Spruce House Investment Management LLC grew its holdings in Colliers International Group by 93.0% during the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider's stock worth $268,387,000 after buying an additional 1,209,867 shares in the last quarter. Turtle Creek Asset Management Inc. grew its holdings in Colliers International Group by 100.9% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock worth $174,611,000 after buying an additional 820,315 shares in the last quarter. Finally, Norges Bank purchased a new stake in Colliers International Group in the 4th quarter valued at $84,906,000. Institutional investors own 80.09% of the company's stock.

Colliers International Group Stock Up 0.1%

CIGI stock opened at $90.04 on Wednesday. The stock's 50 day simple moving average is $98.55 and its 200 day simple moving average is $100.06. Colliers International Group has a fifty-two week low of $87.36 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $4.60 billion, a P/E ratio of 42.88 and a beta of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, research analysts expect that Colliers International Group will post 6.92 earnings per share for the current fiscal year.

Colliers International Group Company Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related industries. The company provides services to occupiers, owners, investors and developers across office, industrial, retail, multifamily, hospitality and other property sectors.

Its offerings include leasing and sales brokerage, capital markets advisory, valuation and appraisal, debt and equity placement, property and facilities management, project management, workplace consulting and engineering services.

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