Colliers International Group (NASDAQ:CIGI) Price Target Raised to $167.50 at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target upped by Scotiabank from $155.00 to $167.50 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a sector outperform rating on the financial services provider’s stock.

CIGI has been the subject of a number of other research reports. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and increased their target price for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. National Bankshares increased their price objective on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Royal Bank of Canada raised their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Colliers International Group Stock Performance

Shares of Colliers International Group stock opened at $147.33 on Wednesday. The business has a fifty day simple moving average of $148.21 and a 200-day simple moving average of $129.82. The stock has a market cap of $7.24 billion, a PE ratio of 50.11 and a beta of 1.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. Colliers International Group has a 12 month low of $94.85 and a 12 month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. Colliers International Group’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. On average, sell-side analysts anticipate that Colliers International Group will post 5.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Several hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. raised its stake 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 valued at $30,000 after purchasing an additional 207 shares during the last quarter. Blue Trust Inc. raised its position in shares of Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after buying an additional 304 shares during the last quarter. Plato Investment Management Ltd acquired a new position in shares of Colliers International Group during the third quarter valued at about $112,000. Central Pacific Bank Trust Division bought a new stake in shares of Colliers International Group in the first quarter valued at about $118,000. Finally, Bayesian Capital Management LP acquired a new stake in Colliers International Group during the first quarter worth about $205,000. 80.09% of the stock is owned by institutional investors.

About Colliers International Group

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.