Colliers International Group Inc. (CIGI) Rating Reiterated by Royal Bank Of Canada

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a note issued to investors on Tuesday. They currently have a $62.00 target price on the financial services provider’s stock, up from their prior target price of $58.00. Royal Bank Of Canada’s price objective points to a potential upside of 20.27% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. BidaskClub lowered Colliers International Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. TheStreet lowered Colliers International Group from a “b” rating to a “c+” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Sidoti lowered Colliers International Group from a “buy” rating to a “neutral” rating in a research report on Monday, July 17th. Finally, BMO Capital Markets upped their target price on Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.70.

Shares of Colliers International Group (NASDAQ:CIGI) traded down 1.81% during trading on Tuesday, reaching $51.55. The company’s stock had a trading volume of 37,101 shares. The company’s 50 day moving average price is $55.07 and its 200 day moving average price is $49.32. Colliers International Group has a 12 month low of $34.20 and a 12 month high of $60.75. The firm has a market cap of $2.00 billion, a PE ratio of 31.15 and a beta of 1.73.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. The company had revenue of $544.20 million during the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. On average, equities analysts predict that Colliers International Group will post $2.87 earnings per share for the current year.

Colliers International Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 13th that allows the company to buyback 2,700,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

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Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in shares of Colliers International Group by 60.3% in the first quarter. Tower Research Capital LLC TRC now owns 3,485 shares of the financial services provider’s stock valued at $165,000 after buying an additional 1,311 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Colliers International Group during the first quarter valued at about $230,000. Atria Investments LLC purchased a new position in shares of Colliers International Group during the second quarter valued at about $230,000. UBS Group AG raised its position in shares of Colliers International Group by 15.0% in the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after buying an additional 645 shares during the last quarter. Finally, Ativo Capital Management LLC purchased a new position in shares of Colliers International Group during the first quarter valued at about $236,000. Institutional investors own 59.40% of the company’s stock.

About Colliers International Group

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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