Colliers International Group (NASDAQ:CIGI) Rating Increased to Buy at StockNews.com

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank upped their price objective on shares of Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 2nd. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price target for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets boosted their price target on Colliers International Group from $140.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, National Bankshares increased their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average price target of $155.83.

Colliers International Group Trading Down 0.2 %

CIGI stock opened at $140.17 on Friday. Colliers International Group has a 52-week low of $83.38 and a 52-week high of $147.53. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The firm has a market cap of $6.86 billion, a P/E ratio of 68.38 and a beta of 1.50. The company’s 50-day simple moving average is $131.84 and its 200-day simple moving average is $120.36.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 EPS. As a group, equities analysts forecast that Colliers International Group will post 5.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Colliers International Group during the 4th quarter worth approximately $47,753,000. The Manufacturers Life Insurance Company raised its position in Colliers International Group by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after purchasing an additional 326,453 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Colliers International Group by 48.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock valued at $88,405,000 after purchasing an additional 228,824 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of Colliers International Group in the 4th quarter valued at $28,421,000. Finally, AGF Management Ltd. increased its position in shares of Colliers International Group by 126.5% during the 4th quarter. AGF Management Ltd. now owns 122,633 shares of the financial services provider’s stock worth $15,511,000 after purchasing an additional 68,479 shares during the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.