Scotiabank Raises Colliers International Group (NASDAQ:CIGI) Price Target to $165.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price upped by stock analysts at Scotiabank from $152.00 to $165.00 in a research report issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target indicates a potential upside of 20.37% from the company’s previous close.

A number of other brokerages also recently commented on CIGI. TD Securities boosted their target price on shares of Colliers International Group from $135.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Raymond James boosted their target price on shares of Colliers International Group from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Zacks Investment Research upgraded shares of Colliers International Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 11th. Finally, Royal Bank of Canada upped their price objective on shares of Colliers International Group from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, August 5th. Two equities 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 stock has a consensus rating of “Buy” and an average price target of $141.17.

Shares of Colliers International Group stock traded down $1.00 during trading hours on Thursday, reaching $137.08. 766 shares of the company were exchanged, compared to its average volume of 70,263. Colliers International Group has a 1 year low of $63.46 and a 1 year high of $143.38. The stock’s fifty day moving average is $132.75 and its 200 day moving average is $118.94. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $5.85 billion, a PE ratio of -15.11 and a beta of 1.58.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Wednesday, August 4th. The financial services provider reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $1.57. The firm had revenue of $945.99 million during the quarter, compared to the consensus estimate of $742.80 million. Colliers International Group had a negative net margin of 11.93% and a negative return on equity of 70.87%. The company’s revenue was up 71.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Research analysts expect that Colliers International Group will post 1.24 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Spruce House Partnership LLC purchased a new position in shares of Colliers International Group in the 1st quarter valued at $562,761,000. FIL Ltd increased its stake in Colliers International Group by 13.6% during the 1st quarter. FIL Ltd now owns 2,687,832 shares of the financial services provider’s stock worth $264,099,000 after buying an additional 322,636 shares during the period. Royal Bank of Canada increased its stake in Colliers International Group by 9.5% during the 2nd quarter. Royal Bank of Canada now owns 2,403,949 shares of the financial services provider’s stock worth $269,195,000 after buying an additional 208,862 shares during the period. Bank of Montreal Can increased its stake in Colliers International Group by 17.7% during the 2nd quarter. Bank of Montreal Can now owns 1,253,281 shares of the financial services provider’s stock worth $144,390,000 after buying an additional 188,161 shares during the period. Finally, Vanguard Group Inc. increased its stake in Colliers International Group by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,105,628 shares of the financial services provider’s stock worth $123,808,000 after buying an additional 47,172 shares during the period. 65.39% of the stock is currently owned by institutional investors and hedge funds.

About Colliers International Group

Colliers International Group, Inc engages in the provision of commercial real estate services to corporate and institutional clients. The firm primarily offers outsourcing and advisory services, lease brokerage, and sales brokerage. It operates through the following geographical segments: Americas, EMEA, Asia Pacific, and Corporate.

Featured Story: What is intrinsic value?

The Fly logo

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

Receive News & Ratings for Colliers International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group and related companies with MarketBeat.com's FREE daily email newsletter.