National Bank Financial Issues Pessimistic Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Key Points

• National Bank Financial cut its price target on Colliers International Group from $143 to $109, while keeping an “outperform” rating. The new target still implies roughly 12.8% upside from the prior close.
• Wall Street sentiment is mixed but generally positive: the stock currently carries an average rating of “Moderate Buy” with an average price target of $159.11. Recent moves from other firms included multiple target reductions, plus upgrades/downgrades from Zacks Research and Weiss Ratings.
• Colliers reported Q2 earnings of $0.91 per share, just below estimates, and revenue of $1.13 billion, also below expectations. The stock was trading at $96.60 on Monday, well below its 200-day moving average of $114.02.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its target price dropped by stock analysts at National Bank Financial from $143.00 to $109.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. National Bank Financial's target price would indicate a potential upside of 12.83% from the stock's previous close.

Several other brokerages have also recently issued reports on CIGI. Zacks Research upgraded shares of Colliers International Group from a "strong sell" rating to a "hold" rating in a research report on Thursday, April 2nd. Weiss Ratings lowered Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Scotia reduced their price objective on Colliers International Group from $155.00 to $150.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, April 15th. Raymond James Financial decreased their price objective on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada lowered their price objective on Colliers International Group from $160.00 to $155.00 and set an "outperform" rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $159.11.

Colliers International Group Price Performance

Shares of Colliers International Group stock traded down $1.04 during trading hours on Monday, hitting $96.60. The company's stock had a trading volume of 73,955 shares, compared to its average volume of 319,464. The business has a 50 day moving average price of $95.91 and a two-hundred day moving average price of $114.02. Colliers International Group has a 12-month low of $88.38 and a 12-month high of $171.51. The company has a market cap of $4.94 billion, a PE ratio of 59.66 and a beta of 1.26. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.23 and a current ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.26 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. Analysts expect that Colliers International Group will post 6.82 earnings per share for the current fiscal year.

Institutional Trading of Colliers International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CIGI. Cooper Investors PTY Ltd. lifted its stake in Colliers International Group by 10.3% in the second quarter. Cooper Investors PTY Ltd. now owns 34,610 shares of the financial services provider's stock worth $3,246,000 after purchasing an additional 3,231 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Colliers International Group by 5.9% during the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider's stock valued at $240,000 after buying an additional 126 shares during the last quarter. Argent Capital Management LLC grew its stake in shares of Colliers International Group by 51.6% during the first quarter. Argent Capital Management LLC now owns 64,980 shares of the financial services provider's stock valued at $6,946,000 after buying an additional 22,118 shares during the last quarter. Turtle Creek Asset Management Inc. raised its holdings in shares of Colliers International Group by 100.9% in 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 during the period. Finally, Bank of America Corp DE raised its holdings in shares of Colliers International Group by 45.0% in the first quarter. Bank of America Corp DE now owns 75,657 shares of the financial services provider's stock worth $8,087,000 after buying an additional 23,473 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company's real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.

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