Raymond James Financial Forecasts Strong Price Appreciation for Colliers International Group (NASDAQ:CIGI) Stock

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective boosted by Raymond James Financial from $170.00 to $180.00 in a research report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James Financial’s price target would indicate a potential upside of 19.34% from the stock’s previous close.

Other analysts have also recently issued reports about the company. JMP Securities began coverage on Colliers International Group in a research note on Monday, July 21st. They issued a “market perform” rating for the company. National Bankshares boosted their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a report on Friday. Royal Bank Of Canada upped their target price on shares of Colliers International Group from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank lifted their price target on shares of Colliers International Group from $155.00 to $170.00 and gave the stock a “sector outperform” rating in a research report on Friday. Finally, Citizens Jmp began coverage on shares of Colliers International Group in a report on Monday, July 21st. They issued a “market perform” rating for the company. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.40.

Colliers International Group Stock Performance

Shares of Colliers International Group stock opened at $150.83 on Friday. The firm has a fifty day moving average of $132.10 and a two-hundred day moving average of $127.64. 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 stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 68.56 and a beta of 1.44. Colliers International Group has a 52 week low of $100.86 and a 52 week high of $156.96.

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

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIGI. FIL Ltd boosted its stake in Colliers International Group by 116.5% in the 4th quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider’s stock worth $210,449,000 after purchasing an additional 832,583 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Colliers International Group by 56.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider’s stock worth $117,140,000 after purchasing an additional 349,046 shares during the period. Durable Capital Partners LP boosted its stake in Colliers International Group by 12.4% in the 1st quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider’s stock worth $360,595,000 after purchasing an additional 328,430 shares during the period. Ameriprise Financial Inc. boosted its stake in Colliers International Group by 39.9% in the 1st quarter. Ameriprise Financial Inc. now owns 480,040 shares of the financial services provider’s stock worth $58,229,000 after purchasing an additional 136,871 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Colliers International Group by 288.0% in the 4th quarter. Nuveen Asset Management LLC now owns 126,451 shares of the financial services provider’s stock worth $17,187,000 after purchasing an additional 93,864 shares during the period. 80.09% of the stock is owned by institutional investors and hedge funds.

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.