Colliers International Group (NASDAQ:CIGI) Price Target Lowered to $148.00 at BMO Capital Markets

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price lowered by BMO Capital Markets from $180.00 to $148.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. BMO Capital Markets currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on CIGI. Raymond James Financial decreased their target price on Colliers International Group from $185.00 to $180.00 in a research report on Wednesday, April 29th. Stifel Nicolaus set a $175.00 target price on Colliers International Group in a research report on Friday, March 13th. National Bank Financial reduced their price objective on Colliers International Group from $160.00 to $143.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Royal Bank Of Canada reduced their price objective on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday. 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 analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.89.

Colliers International Group Trading Up 2.2%

Shares of NASDAQ:CIGI opened at $99.18 on Wednesday. Colliers International Group has a 1 year low of $94.57 and a 1 year high of $171.51. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 61.22 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 1.10. The business’s 50 day moving average price is $109.79 and its 200-day moving average price is $131.87.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). Colliers International Group had a net margin of 1.45% and a return on equity of 20.52%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the business earned $0.87 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities research analysts forecast that Colliers International Group will post 6.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Durable Capital Partners LP raised its stake in Colliers International Group by 2.0% in the 3rd quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock valued at $577,840,000 after purchasing an additional 73,623 shares during the last quarter. Vanguard Group Inc. raised its stake in Colliers International Group by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock valued at $293,379,000 after purchasing an additional 23,516 shares during the last quarter. FIL Ltd raised its stake in Colliers International Group by 5.0% in the 4th quarter. FIL Ltd now owns 1,780,980 shares of the financial services provider’s stock valued at $261,772,000 after purchasing an additional 85,078 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Colliers International Group by 16.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,308,985 shares of the financial services provider’s stock valued at $192,436,000 after purchasing an additional 187,663 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Colliers International Group by 69.0% in the 4th quarter. Bank of Montreal Can now owns 1,076,806 shares of the financial services provider’s stock valued at $158,274,000 after purchasing an additional 439,607 shares during 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.