Colliers International Group (NASDAQ:CIGI) Stock Gets Price Target Cut from National Bank Financial

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price reduced by equities researchers at National Bank Financial from $110.00 to $109.00 in a report released on Thursday, BayStreet reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective indicates a potential upside of 20.13% from the stock’s current price.

A number of other research analysts have also weighed in on CIGI. BMO Capital Markets reissued an “outperform” rating on shares of Colliers International Group in a report on Thursday, September 24th. Scotiabank decreased their price target on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Finally, Scotia dropped their price objective on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.50.

Colliers International Group Price Performance

NASDAQ CIGI traded up $4.62 during trading on Thursday, hitting $90.73. 156,601 shares of the stock traded hands, compared to its average volume of 292,388. The company has a market capitalization of $4.64 billion, a P/E ratio of 43.09 and a beta of 1.23. The firm has a 50-day simple moving average of $95.97 and a 200-day simple moving average of $98.80. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.61. Colliers International Group has a 12-month low of $83.21 and a 12-month high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.04. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 EPS. As a group, analysts predict that Colliers International Group will post 6.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cooper Investors PTY Ltd. increased its position in Colliers International Group by 16.4% during the third quarter. Cooper Investors PTY Ltd. now owns 40,276 shares of the financial services provider’s stock valued at $3,617,000 after acquiring an additional 5,666 shares during the last quarter. Burkett Asset Management Ltd raised its stake in shares of Colliers International Group by 2.0% in the third quarter. Burkett Asset Management Ltd now owns 16,685 shares of the financial services provider’s stock valued at $1,500,000 after acquiring an additional 330 shares during the period. Fenimore Asset Management Inc lifted its holdings in shares of Colliers International Group by 7.6% in the 3rd quarter. Fenimore Asset Management Inc now owns 264,147 shares of the financial services provider’s stock worth $23,720,000 after acquiring an additional 18,627 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Colliers International Group by 108.7% in the 2nd quarter. Tidal Investments LLC now owns 4,990 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 2,599 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Colliers International Group by 21.4% during the 2nd quarter. NewEdge Advisors LLC now owns 2,728 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 480 shares during the period. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.