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Colliers International Group (NASDAQ:CIGI) Upgraded to "Hold" at Zacks Investment Research

Last updated on Tuesday, June 30, 2020 | 2020 MarketBeat

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, "FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService's operations are divided into two divisions: Property Services and Business Services "

CIGI has been the subject of a number of other research reports. BidaskClub downgraded shares of Colliers International Group from a "buy" rating to a "hold" rating in a research report on Friday. Raymond James set a $75.00 price objective on shares of Colliers International Group and gave the company an "outperform" rating in a research report on Wednesday, April 29th. BMO Capital Markets cut their price objective on shares of Colliers International Group from $75.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, April 29th. Royal Bank of Canada cut their price objective on shares of Colliers International Group from $94.00 to $80.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, reissued a "sell" rating on shares of Colliers International Group in a research report on Wednesday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of "Hold" and a consensus target price of $81.75.

NASDAQ:CIGI traded up $0.80 during trading hours on Tuesday, reaching $57.31. The company had a trading volume of 72,896 shares, compared to its average volume of 136,765. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.49. Colliers International Group has a 52 week low of $33.93 and a 52 week high of $92.07. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 21.63 and a beta of 1.65. The firm's 50 day moving average price is $54.84 and its 200-day moving average price is $65.95.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.37. Colliers International Group had a net margin of 3.49% and a return on equity of 22.33%. The business had revenue of $630.60 million during the quarter, compared to the consensus estimate of $659.68 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm's revenue was down .7% on a year-over-year basis. On average, analysts forecast that Colliers International Group will post 1.16 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIGI. USA Financial Portformulas Corp purchased a new position in shares of Colliers International Group during the 1st quarter valued at $80,000. Citigroup Inc. lifted its stake in shares of Colliers International Group by 119.0% during the 4th quarter. Citigroup Inc. now owns 1,178 shares of the financial services provider's stock valued at $92,000 after buying an additional 640 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Colliers International Group by 32.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,981 shares of the financial services provider's stock valued at $141,000 after buying an additional 728 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Colliers International Group during the 4th quarter valued at $176,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Colliers International Group by 19.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 3,587 shares of the financial services provider's stock valued at $279,000 after buying an additional 589 shares in the last quarter. Institutional investors own 70.64% of the company's stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

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