Scotiabank Forecasts Strong Price Appreciation for Colliers International Group (NASDAQ:CIGI) Stock

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective hoisted by analysts at Scotiabank from $155.00 to $170.00 in a research report issued on Friday, MarketBeat Ratings reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price suggests a potential upside of 12.71% from the stock’s previous close.

A number of other brokerages have also weighed in on CIGI. JPMorgan Chase & Co. dropped their target price on shares of Colliers International Group from $167.00 to $142.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. National Bankshares increased their price objective on shares of Colliers International Group from $169.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank Of Canada increased their price objective on shares of Colliers International Group from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday. Citizens Jmp started coverage on shares of Colliers International Group in a research report on Monday, July 21st. They set a “market perform” rating for the company. Finally, Stifel Nicolaus lowered their price objective on shares of Colliers International Group from $165.00 to $160.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $168.40.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $150.83 on Friday. 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 firm has a fifty day moving average price of $132.10 and a 200 day moving average price of $127.64. Colliers International Group has a fifty-two week low of $100.86 and a fifty-two week high of $156.96. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 68.56 and a beta of 1.44.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.20. Colliers International Group had a net margin of 2.17% and a return on equity of 21.13%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. Colliers International Group’s revenue for the quarter was up 18.3% on a year-over-year basis. As a group, sell-side analysts expect that Colliers International Group will post 6.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Colliers International Group by 1.4% in the first quarter. Royal Bank of Canada now owns 3,815,470 shares of the financial services provider’s stock valued at $462,816,000 after acquiring an additional 52,414 shares during the period. Durable Capital Partners LP raised its stake in shares of Colliers International Group by 12.4% in the first quarter. Durable Capital Partners LP now owns 2,972,757 shares of the financial services provider’s stock valued at $360,595,000 after acquiring an additional 328,430 shares during the period. Vanguard Group Inc. raised its stake in shares of Colliers International Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 1,905,172 shares of the financial services provider’s stock valued at $230,558,000 after acquiring an additional 38,379 shares during the period. FIL Ltd raised its stake in shares of Colliers International Group by 116.5% in the fourth quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider’s stock valued at $210,449,000 after acquiring an additional 832,583 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of Colliers International Group by 56.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 965,700 shares of the financial services provider’s stock valued at $117,140,000 after acquiring an additional 349,046 shares during the period. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

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.