Colliers International Group (NASDAQ:CIGI) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports. The firm currently has $102.00 target price on the financial services provider’s stock.

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 topic of several other reports. Raymond James set a $88.00 price target on shares of Colliers International Group and gave the company an outperform rating in a report on Wednesday, January 29th. BidaskClub upgraded shares of Colliers International Group from a hold rating to a buy rating in a report on Thursday, January 16th. ValuEngine upgraded shares of Colliers International Group from a sell rating to a hold rating in a report on Sunday, December 22nd. Finally, Royal Bank of Canada upped their price target on shares of Colliers International Group from $80.00 to $94.00 and gave the company a positive rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $91.25.

Shares of NASDAQ CIGI opened at $90.65 on Wednesday. The firm’s 50-day moving average price is $83.14 and its 200-day moving average price is $74.24. The company has a current ratio of 0.78, a quick ratio of 0.84 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 34.98 and a beta of 1.62. Colliers International Group has a 12-month low of $60.28 and a 12-month high of $92.07.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.40. The firm had revenue of $928.30 million for the quarter, compared to analysts’ expectations of $948.77 million. Colliers International Group had a net margin of 3.38% and a return on equity of 22.77%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.77 EPS. On average, equities analysts predict that Colliers International Group will post 3.38 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of CIGI. FIL Ltd grew its holdings in Colliers International Group by 446.3% during the 4th quarter. FIL Ltd now owns 1,013,294 shares of the financial services provider’s stock valued at $78,891,000 after purchasing an additional 827,794 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in Colliers International Group by 3,676.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 214,989 shares of the financial services provider’s stock valued at $16,195,000 after purchasing an additional 209,296 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in Colliers International Group by 3,498.8% during the 4th quarter. Cidel Asset Management Inc. now owns 156,187 shares of the financial services provider’s stock valued at $12,177,000 after purchasing an additional 151,847 shares during the last quarter. Marshall Wace North America L.P. grew its holdings in Colliers International Group by 1,145.0% during the 4th quarter. Marshall Wace North America L.P. now owns 76,695 shares of the financial services provider’s stock valued at $5,979,000 after purchasing an additional 70,535 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Colliers International Group by 134.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 115,968 shares of the financial services provider’s stock valued at $9,042,000 after purchasing an additional 66,486 shares during the last quarter. Institutional investors own 71.13% 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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