Colliers International Group (NASDAQ:CIGI) PT Raised to $160.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target increased by Royal Bank of Canada from $145.00 to $160.00 in a report issued on Friday, MarketBeat.com reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CIGI. BMO Capital Markets upped their price objective on Colliers International Group from $140.00 to $163.00 and gave the company an outperform rating in a research report on Friday. Raymond James downgraded Colliers International Group from a strong-buy rating to an outperform rating and upped their price objective for the company from $150.00 to $160.00 in a research report on Friday. Finally, Scotiabank upped their price objective on Colliers International Group from $150.00 to $155.00 and gave the company a sector outperform rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $155.83.

Colliers International Group Price Performance

Colliers International Group stock traded up $3.26 during midday trading on Friday, reaching $135.12. 154,166 shares of the stock traded hands, compared to its average volume of 119,239. The stock’s fifty day moving average is $117.95 and its 200-day moving average is $116.99. Colliers International Group has a 12 month low of $83.38 and a 12 month high of $140.52. The stock has a market cap of $6.61 billion, a P/E ratio of 64.32 and a beta of 1.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a net margin of 3.20% and a return on equity of 25.35%. The company had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Colliers International Group will post 5.51 EPS for the current year.

Colliers International Group Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.15 dividend. The ex-dividend date was Friday, June 28th. This represents a dividend yield of 0.3%. Colliers International Group’s payout ratio is 14.63%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. increased its holdings in Colliers International Group by 575.0% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 207 shares during the period. Blue Trust Inc. boosted its position in Colliers International Group by 3,377.8% during the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 304 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Colliers International Group by 252.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 316 shares in the last quarter. Tobam bought a new stake in Colliers International Group during the 4th quarter valued at $58,000. Finally, Security National Bank bought a new stake in Colliers International Group during the 4th quarter valued at $70,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

Colliers International Group Company Profile

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.