Scotia Has Lowered Expectations for Colliers International Group (NASDAQ:CIGI) Stock Price

Key Points

• Scotia lowered its price target for Colliers International Group from $150 to $145 while maintaining a “sector outperform” rating, implying approximately 46.9% upside from the reported $98.71 share price.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $157.56, despite several recent target reductions and one “sell” rating.
• Colliers reported quarterly EPS of $1.83, beating estimates of $1.79, while revenue rose 16.7% year over year to $1.38 billion but fell short of the $1.48 billion consensus estimate. Institutional investors own approximately 80.1% of the company.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price objective decreased by stock analysts at Scotia from $150.00 to $145.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the financial services provider's stock. Scotia's price objective points to a potential upside of 46.89% from the company's previous close.

Other analysts have also issued reports about the stock. Royal Bank Of Canada reduced their price objective on shares of 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. Scotiabank decreased their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an "outperform" rating for the company in a report on Friday. National Bank Financial lowered their price objective on Colliers International Group from $143.00 to $109.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Weiss Ratings cut Colliers International Group from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, May 11th. Finally, BMO Capital Markets lowered their price target on Colliers International Group from $180.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.56.

Colliers International Group Stock Down 0.7%

CIGI stock traded down $0.67 on Friday, reaching $98.71. 109,779 shares of the company traded hands, compared to its average volume of 310,487. The firm has a fifty day simple moving average of $96.57 and a 200-day simple moving average of $109.24. The company has a market cap of $5.04 billion, a P/E ratio of 60.57 and a beta of 1.26. Colliers International Group has a one year low of $88.38 and a one year high of $171.51. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.23 and a quick ratio of 1.23.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last released its earnings results on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. Research analysts anticipate that Colliers International Group will post 6.82 earnings per share for the current year.

Institutional Trading of Colliers International Group

Several large investors have recently added to or reduced their stakes in the business. Spruce House Investment Management LLC boosted its stake in shares of Colliers International Group by 93.0% during the 1st quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider's stock worth $268,387,000 after acquiring an additional 1,209,867 shares during the last quarter. Turtle Creek Asset Management Inc. increased its stake in shares of Colliers International Group by 100.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider's stock worth $174,611,000 after purchasing an additional 820,315 shares in the last quarter. Durable Capital Partners LP raised its holdings in Colliers International Group by 22.0% in the 2nd quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider's stock worth $473,273,000 after purchasing an additional 652,744 shares during the period. Norges Bank bought a new position in Colliers International Group in the 4th quarter worth $84,906,000. Finally, Bank of Montreal Can lifted its position in Colliers International Group by 69.0% during the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider's stock valued at $158,274,000 after purchasing an additional 439,607 shares in the last quarter. 80.09% of the stock is currently owned by 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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