Colliers International Group (NASDAQ:CIGI) Price Target Raised to $174.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target boosted by Royal Bank of Canada from $160.00 to $174.00 in a research note released on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Stifel Nicolaus raised their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. National Bankshares lifted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Scotiabank lifted their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.33.

Colliers International Group Price Performance

NASDAQ:CIGI opened at $154.91 on Monday. The company has a 50-day moving average of $146.35 and a 200-day moving average of $127.17. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of 75.57 and a beta of 1.49. Colliers International Group has a 52 week low of $83.38 and a 52 week high of $155.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. Colliers International Group’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. As a group, equities research analysts anticipate that Colliers International Group will post 5.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors have recently modified their holdings of CIGI. The Manufacturers Life Insurance Company raised its stake in shares of Colliers International Group by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after acquiring an additional 326,453 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Colliers International Group by 91.3% in the second quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock worth $34,677,000 after acquiring an additional 148,265 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of Colliers International Group in the second quarter worth about $6,970,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Colliers International Group in the first quarter worth about $7,092,000. Finally, Victory Capital Management Inc. raised its stake in shares of Colliers International Group by 5.9% in the second quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after acquiring an additional 41,225 shares during the last quarter. 80.09% of the stock is 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.