Colliers International Group (NASDAQ:CIGI) Stock Gets Price Target Reduction from National Bank Financial

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective trimmed by National Bank Financial from $110.00 to $109.00 in a research note published on Thursday morning,BayStreet reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of Colliers International Group in a research report on Thursday, September 24th. Scotia reduced their price target on shares of Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 31st. Scotiabank reduced their price target on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Colliers International Group from a “sell (d)” rating to a “hold (c-)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Colliers International Group has an average rating of “Moderate Buy” and a consensus price target of $154.50.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $90.32 on Thursday. The stock’s 50-day simple moving average is $95.59 and its 200-day simple moving average is $98.68. The firm has a market capitalization of $4.62 billion, a PE ratio of 43.01 and a beta of 1.23. Colliers International Group has a fifty-two week low of $83.21 and a fifty-two week high of $171.51. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.19 and a current ratio of 1.19.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.48 billion. Colliers International Group had a return on equity of 20.17% and a net margin of 1.81%. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 earnings per share. As a group, equities research analysts forecast that Colliers International Group will post 6.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP purchased a new position in Colliers International Group during the 2nd quarter worth $41,488,000. Montrusco Bolton Investments Inc. increased its stake in Colliers International Group by 12.5% in the first quarter. Montrusco Bolton Investments Inc. now owns 145,285 shares of the financial services provider’s stock valued at $15,484,000 after purchasing an additional 16,108 shares during the period. Bank of America Corp DE purchased a new stake in shares of Colliers International Group in the second quarter valued at about $37,034,000. BlackRock Inc. purchased a new stake in shares of Colliers International Group in the second quarter valued at about $8,692,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Colliers International Group in the second quarter valued at about $292,656,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

About Colliers International Group

Colliers International Group Inc is a global professional services and investment management company focused on commercial real estate and related infrastructure markets. Through its operating businesses, the company provides real estate advisory and brokerage services, valuation and consulting, corporate solutions, property management, project management, and engineering services.

Colliers also manages investments for institutional and private clients through its investment management business.