Raymond James Reaffirms “Outperform” Rating for Colliers International Group (NASDAQ:CIGI)

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Raymond James reaffirmed their outperform rating on shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) in a research report sent to investors on Friday, BayStreet.CA reports. They currently have a $85.00 price target on the financial services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada set a €145.00 ($168.60) price target on Aena SME and gave the stock a sell rating in a report on Tuesday, April 30th. BidaskClub cut Virtu Financial from a sell rating to a strong sell rating in a report on Wednesday, June 12th. Finally, Zacks Investment Research cut Hancock Jaffe Laboratories from a buy rating to a hold rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $77.67.

NASDAQ CIGI opened at $73.28 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $68.69. Colliers International Group has a 12-month low of $52.01 and a 12-month high of $84.20. The firm has a market cap of $2.80 billion, a PE ratio of 30.71 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.23). The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $628.75 million. Colliers International Group had a return on equity of 25.61% and a net margin of 3.24%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, research analysts predict that Colliers International Group will post 3.11 earnings per share for the current year.

The business also recently announced a semiannual dividend, which was paid on Tuesday, July 9th. Shareholders of record on Friday, June 28th were issued a dividend of $0.05 per share. This represents a yield of 0.16%. The ex-dividend date was Thursday, June 27th. Colliers International Group’s dividend payout ratio (DPR) is presently 4.08%.

A number of large investors have recently made changes to their positions in the business. William Blair Investment Management LLC grew its holdings in Colliers International Group by 0.5% during the 1st quarter. William Blair Investment Management LLC now owns 1,041,494 shares of the financial services provider’s stock valued at $69,530,000 after buying an additional 5,633 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Colliers International Group by 3.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 814,629 shares of the financial services provider’s stock valued at $54,385,000 after buying an additional 29,042 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Colliers International Group by 15.6% during the 1st quarter. CIBC Asset Management Inc now owns 478,787 shares of the financial services provider’s stock valued at $31,983,000 after buying an additional 64,681 shares during the last quarter. Pembroke Management LTD grew its holdings in Colliers International Group by 101.3% during the 1st quarter. Pembroke Management LTD now owns 465,200 shares of the financial services provider’s stock valued at $41,528,000 after buying an additional 234,050 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Colliers International Group during the 4th quarter worth $24,103,000. Hedge funds and other institutional investors own 68.15% of the company’s stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

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