Colliers International Group (NASDAQ:CIGI) Downgraded by Raymond James to Outperform

Raymond James downgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a strong-buy rating to an outperform rating in a report issued on Friday, Marketbeat.com reports. They currently have $160.00 price target on the financial services provider’s stock, up from their prior price target of $150.00.

Several other equities research analysts have also recently issued reports on CIGI. Scotiabank lifted their target price on Colliers International Group from $135.00 to $150.00 and gave the stock an outperform rating in a report on Tuesday, July 23rd. BMO Capital Markets upped their price objective on Colliers International Group from $137.00 to $140.00 and gave the stock an outperform rating in a report on Tuesday, June 4th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $145.00 target price on shares of Colliers International Group in a research report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $155.83.

Colliers International Group Trading Down 2.9 %

Shares of CIGI opened at $136.22 on Friday. The firm has a market cap of $6.67 billion, a P/E ratio of 66.45 and a beta of 1.50. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.18 and a quick ratio of 1.18. Colliers International Group has a 1 year low of $83.38 and a 1 year high of $140.52. The company has a 50 day simple moving average of $117.95 and a two-hundred day simple moving average of $116.90.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.03 million. Colliers International Group had a net margin of 3.20% and a return on equity of 25.35%. On average, equities analysts expect that Colliers International Group will post 5.51 earnings per share for the current fiscal year.

Colliers International Group Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were given a dividend of $0.15 per share. This represents a dividend yield of 0.3%. The ex-dividend date was Friday, June 28th. Colliers International Group’s dividend payout ratio is currently 14.63%.

Institutional Trading of Colliers International Group

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Colliers International Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after acquiring an additional 5,152 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Colliers International Group by 33.6% during the 4th quarter. Mackenzie Financial Corp now owns 725,052 shares of the financial services provider’s stock worth $91,754,000 after purchasing an additional 182,167 shares during the period. Victory Capital Management Inc. grew its holdings in Colliers International Group by 9.4% during the 4th quarter. Victory Capital Management Inc. now owns 710,420 shares of the financial services provider’s stock valued at $89,882,000 after purchasing an additional 61,295 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Colliers International Group by 48.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock worth $88,405,000 after purchasing an additional 228,824 shares during the period. Finally, CDAM UK Ltd lifted its stake in Colliers International Group by 7.4% in the fourth quarter. CDAM UK Ltd now owns 657,311 shares of the financial services provider’s stock worth $83,163,000 after purchasing an additional 45,350 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors.

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.