Colliers International Group Inc. (NASDAQ:CIGI) Receives $154.62 Average PT from Brokerages

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $154.6250.

Several brokerages have issued reports on CIGI. Scotiabank dropped their target price on Colliers International Group from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Weiss Ratings raised Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. National Bank Financial upped their price objective on Colliers International Group from $109.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Scotia lowered their price target on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 31st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Colliers International Group during the 3rd quarter valued at approximately $26,000. Arax Advisory Partners lifted its stake in shares of 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 buying an additional 126 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Colliers International Group during the fourth quarter worth $32,000. Trust Co. of Vermont purchased a new stake in Colliers International Group during the 2nd quarter valued at about $36,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Colliers International Group in the second quarter valued at about $39,000. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $99.02 on Friday. The business’s 50 day moving average is $100.75 and its 200 day moving average is $102.80. The stock has a market cap of $5.06 billion, a P/E ratio of 47.15 and a beta of 1.23. Colliers International Group has a 52-week low of $88.38 and a 52-week high of $171.51. 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 (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results 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 business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%.Colliers International Group’s revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.72 EPS. Sell-side analysts predict that Colliers International Group will post 6.92 EPS for the current year.

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.