Colliers International Group Inc. (NASDAQ:CIGI) Receives $162.89 Consensus Target Price from Analysts

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $162.8889.

CIGI has been the topic of several recent research reports. National Bank Financial dropped their target price on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. BMO Capital Markets dropped their target price on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. Raymond James Financial dropped their target price on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Scotiabank dropped their target price on Colliers International Group from $185.00 to $155.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Finally, Scotia decreased their price target on shares of Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating on the stock in a report on Wednesday, April 15th.

Colliers International Group Price Performance

Colliers International Group stock opened at $95.80 on Thursday. Colliers International Group has a 12 month low of $90.93 and a 12 month high of $171.51. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The business’s 50 day simple moving average is $103.40 and its 200 day simple moving average is $123.11. The company has a market cap of $4.90 billion, a price-to-earnings ratio of 59.14 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $0.91 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $0.87 EPS. Colliers International Group’s revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Colliers International Group will post 6.39 EPS for the current year.

Colliers International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Stockholders of record on Tuesday, June 30th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. Colliers International Group’s dividend payout ratio is presently 18.52%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CIGI. Spruce House Investment Management LLC increased its holdings in shares of Colliers International Group by 93.0% in the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after purchasing an additional 1,209,867 shares during the period. Turtle Creek Asset Management Inc. increased its stake in Colliers International Group by 100.9% in the first quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock valued at $174,611,000 after acquiring an additional 820,315 shares during the last quarter. Durable Capital Partners LP increased its stake in Colliers International Group by 22.0% in the second quarter. Durable Capital Partners LP now owns 3,625,501 shares of the financial services provider’s stock valued at $473,273,000 after acquiring an additional 652,744 shares during the last quarter. Norges Bank bought a new position in Colliers International Group in the fourth quarter valued at $84,906,000. Finally, Bank of Montreal Can increased its stake in Colliers International Group by 69.0% in the fourth quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock valued at $158,274,000 after acquiring an additional 439,607 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.