Scotiabank Raises Colliers International Group (NASDAQ:CIGI) Price Target to $167.50

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective increased by equities researchers at Scotiabank from $155.00 to $167.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 10.77% from the company’s previous close.

Other analysts have also issued reports about the stock. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $150.00 to $160.00 in a research note on Friday, August 2nd. BMO Capital Markets boosted their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Stifel Nicolaus raised their price target 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. StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada increased their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Colliers International Group Price Performance

Shares of CIGI opened at $151.22 on Wednesday. The company has a market capitalization of $7.43 billion, a P/E ratio of 51.44 and a beta of 1.50. Colliers International Group has a twelve month low of $94.85 and a twelve month high of $156.96. 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 50 day moving average of $148.38 and a 200 day moving average of $129.97.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Colliers International Group will post 5.63 earnings per share for the current fiscal year.

Institutional Trading of Colliers International Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Thrivent Financial for Lutherans purchased a new stake in Colliers International Group in the 3rd quarter worth approximately $2,581,000. Empowered Funds LLC boosted its position in shares of Colliers International Group by 60.5% in the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock worth $1,885,000 after purchasing an additional 4,678 shares during the period. Plato Investment Management Ltd bought a new position in shares of Colliers International Group in the third quarter worth approximately $112,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Colliers International Group during the 3rd quarter valued at $702,000. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Colliers International Group by 23.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 7,260 shares of the financial services provider’s stock valued at $1,102,000 after purchasing an additional 1,375 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.