Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) had its price objective lifted by research analysts at Royal Bank of Canada from $145.00 to $160.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 18.75% from the company’s previous close.
CIGI has been the subject of a number of other research reports. BMO Capital Markets boosted their price objective on shares of Colliers International Group from $140.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday. Scotiabank lifted their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a report on Friday. Finally, Raymond James cut shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $150.00 to $160.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.83.
Read Our Latest Stock Report on Colliers International Group
Colliers International Group Stock Down 4.0 %
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.20). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $989.03 million. Colliers International Group had a net margin of 2.25% and a return on equity of 26.28%. As a group, research analysts forecast that Colliers International Group will post 5.51 EPS for the current fiscal year.
Institutional Investors Weigh In On Colliers International Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in CIGI. Intact Investment Management Inc. purchased a new position in Colliers International Group during the second quarter valued at $6,970,000. Hantz Financial Services Inc. acquired a new stake in Colliers International Group in the 2nd quarter worth about $567,000. Fort Washington Investment Advisors Inc. OH increased its stake in Colliers International Group by 11.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 125,389 shares of the financial services provider’s stock worth $14,000,000 after buying an additional 12,920 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Colliers International Group by 2.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,055 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 238 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Colliers International Group by 93.0% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.
About Colliers International Group
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.
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