Colliers International Group (NASDAQ:CIGI) Given New $170.00 Price Target at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target raised by stock analysts at Scotiabank from $155.00 to $170.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would suggest a potential upside of 10.37% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus reduced their price target on Colliers International Group from $165.00 to $160.00 and set a “buy” rating for the company in a report on Monday, April 28th. Citizens Jmp initiated coverage on Colliers International Group in a research report on Monday, July 21st. They issued a “market perform” rating on the stock. National Bankshares boosted their price objective on Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. lowered their price target on Colliers International Group from $167.00 to $142.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank Of Canada boosted their price objective on Colliers International Group from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.40.

Colliers International Group Stock Up 1.3%

Shares of CIGI stock traded up $1.94 during mid-day trading on Friday, reaching $154.03. 48,705 shares of the company were exchanged, compared to its average volume of 131,902. Colliers International Group has a fifty-two week low of $100.86 and a fifty-two week high of $156.96. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market capitalization of $7.62 billion, a P/E ratio of 70.04 and a beta of 1.44. The business’s 50 day simple moving average is $132.78 and its 200 day simple moving average is $127.68.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.20. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Colliers International Group had a net margin of 2.17% and a return on equity of 21.13%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 earnings per share. Research analysts predict that Colliers International Group will post 6.2 earnings per share for the current year.

Institutional Investors Weigh In On Colliers International Group

Several hedge funds have recently added to or reduced their stakes in the company. MQS Management LLC purchased a new position in Colliers International Group during the 1st quarter valued at about $527,000. Millennium Management LLC bought a new position in Colliers International Group during the 4th quarter valued at approximately $3,587,000. Massachusetts Financial Services Co. MA boosted its stake in Colliers International Group by 4.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 106,095 shares of the financial services provider’s stock valued at $12,869,000 after purchasing an additional 4,153 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Colliers International Group by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 697,015 shares of the financial services provider’s stock valued at $84,548,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Colliers International Group by 102.5% during the 4th quarter. Bank of America Corp DE now owns 93,239 shares of the financial services provider’s stock valued at $12,678,000 after purchasing an additional 47,195 shares during the last quarter. 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.