Scotiabank Boosts Colliers International Group (NASDAQ:CIGI) Price Target to $170.00

Key Points

• Scotiabank has raised its target price for Colliers International Group (NASDAQ:CIGI) from $155.00 to $170.00, maintaining an "outperform" rating and indicating a potential upside of 12.24%.
• The company reported better-than-expected earnings, with $1.72 EPS for the quarter, exceeding analysts' estimates of $1.52.
• Overall, Colliers International Group has a consensus rating of "Moderate Buy" from analysts, with an average target price of $166.90.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI had its price target raised by research analysts at Scotiabank from $155.00 to $170.00 in a report issued on Friday, Marketbeat reports. The brokerage currently has a "sector outperform" rating on the financial services provider's stock. Scotiabank's price objective suggests a potential upside of 8.52% from the stock's previous close.

Several other research firms have also commented on CIGI. Citizens Jmp assumed coverage on shares of Colliers International Group in a research note on Monday, July 21st. They set a "market perform" rating for the company. JPMorgan Chase & Co. cut their price target on shares of Colliers International Group from $167.00 to $142.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. National Bankshares upped their price target on shares of Colliers International Group from $169.00 to $175.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Royal Bank Of Canada upped their price target on shares of Colliers International Group from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus cut their price target on shares of Colliers International Group from $165.00 to $160.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $168.40.

Colliers International Group Price Performance

CIGI remained flat at $156.66 on Friday. 144,089 shares of the company were exchanged, compared to its average volume of 132,794. Colliers International Group has a one year low of $100.86 and a one year high of $158.21. The firm has a 50 day moving average price of $133.48 and a two-hundred day moving average price of $127.88. The firm has a market capitalization of $7.75 billion, a P/E ratio of 71.21 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.68.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.20. Colliers International Group had a net margin of 2.17% and a return on equity of 17.09%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The company's revenue was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that Colliers International Group will post 6.2 earnings per share for the current year.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently added to or reduced their stakes in the stock. TCTC Holdings LLC raised its position in shares of Colliers International Group by 114.9% in the first quarter. TCTC Holdings LLC now owns 217 shares of the financial services provider's stock valued at $26,000 after buying an additional 116 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group in the first quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its stake in Colliers International Group by 1,752.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 315 shares of the financial services provider's stock worth $43,000 after acquiring an additional 298 shares during the last quarter. State of Wyoming purchased a new position in Colliers International Group in the first quarter worth approximately $52,000. Finally, Central Pacific Bank Trust Division lifted its stake in Colliers International Group by 10.0% in the first quarter. Central Pacific Bank Trust Division now owns 1,100 shares of the financial services provider's stock worth $133,000 after acquiring an additional 100 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Company Profile

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.