Colliers International Group (NASDAQ:CIGI) Stock Price Expected to Rise, Scotiabank Analyst Says

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 target price lifted by investment analysts at Scotiabank from $155.00 to $170.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has a "sector outperform" rating on the financial services provider's stock. Scotiabank's price objective indicates a potential upside of 12.71% from the stock's previous close.

CIGI has been the topic of a number of other reports. National Bankshares raised their price objective 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. Citizens Jmp started coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a "market perform" rating for the company. JPMorgan Chase & Co. dropped their price target on Colliers International Group from $167.00 to $142.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. JMP Securities started coverage on shares of Colliers International Group in a research note on Monday, July 21st. They issued a "market perform" rating for the company. Finally, Stifel Nicolaus dropped their target price on shares of Colliers International Group from $165.00 to $160.00 and set a "buy" rating for the company in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Colliers International Group presently has an average rating of "Moderate Buy" and an average price target of $168.40.

Colliers International Group Price Performance

Shares of CIGI stock traded up $0.12 on Friday, reaching $150.83. The company had a trading volume of 173,444 shares, compared to its average volume of 140,265. Colliers International Group has a one year low of $100.86 and a one year high of $156.96. The stock has a market capitalization of $7.46 billion, a PE ratio of 68.56 and a beta of 1.39. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.24. The business's 50-day moving average is $132.10 and its 200 day moving average is $127.70.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data 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. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 21.13%. Colliers International Group's revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Equities research analysts forecast that Colliers International Group will post 6.2 EPS for the current fiscal year.

Institutional Trading of Colliers International Group

Several hedge funds have recently made changes to their positions in CIGI. Sei Investments Co. lifted its position in Colliers International Group by 37.7% during the 4th quarter. Sei Investments Co. now owns 13,179 shares of the financial services provider's stock worth $1,792,000 after acquiring an additional 3,606 shares during the period. LPL Financial LLC raised its stake in Colliers International Group by 53.3% in the 4th quarter. LPL Financial LLC now owns 2,723 shares of the financial services provider's stock valued at $370,000 after purchasing an additional 947 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Colliers International Group by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 1,866,793 shares of the financial services provider's stock worth $253,867,000 after purchasing an additional 21,422 shares during the period. Pictet Asset Management Holding SA grew its holdings in Colliers International Group by 1.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 8,094 shares of the financial services provider's stock valued at $1,100,000 after purchasing an additional 144 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Colliers International Group during the fourth quarter valued at about $755,000. Institutional investors and hedge funds own 80.09% of the company's stock.

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.