Scotiabank Cuts Colliers International Group (NASDAQ:CIGI) Price Target to $145.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target reduced by analysts at Scotiabank from $150.00 to $145.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 48.70% from the company’s previous close.

A number of other research firms have also recently commented on CIGI. National Bank Financial decreased their target price on shares of Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. BMO Capital Markets dropped their price objective on shares of Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Raymond James Financial reduced their target price on shares of Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Scotia reduced their price objective on Colliers International Group from $155.00 to $150.00 and set a “sector outperform” rating for the company in a research note on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Colliers International Group Stock Down 1.9%

NASDAQ:CIGI traded down $1.87 during mid-day trading on Friday, reaching $97.51. The company’s stock had a trading volume of 37,916 shares, compared to its average volume of 309,994. Colliers International Group has a 1 year low of $88.38 and a 1 year high of $171.51. The stock has a fifty day moving average of $96.57 and a 200-day moving average of $109.24. The firm has a market capitalization of $4.98 billion, a PE ratio of 60.16 and a beta of 1.26. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23.

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 for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.31% and a net margin of 1.45%.The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 earnings per share. Equities research analysts forecast that Colliers International Group will post 6.82 earnings per share for the current year.

Institutional Trading of Colliers International Group

Several institutional investors have recently bought and sold shares of CIGI. Caitong International Asset Management Co. Ltd purchased a new position in shares of Colliers International Group during the 3rd quarter valued at approximately $26,000. Arax Advisory Partners raised its position in Colliers International Group by 137.0% during the fourth quarter. Arax Advisory Partners now owns 218 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 126 shares during the period. Kestra Advisory Services LLC acquired a new position in Colliers International Group during the fourth quarter worth $32,000. JPMorgan Chase & Co. purchased a new position in Colliers International Group during the second quarter valued at $39,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Colliers International Group by 26.3% during the second quarter. EverSource Wealth Advisors LLC now owns 303 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 63 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

About Colliers International Group

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.