Colliers International Group (NASDAQ:CIGI) Price Target Cut to $145.00 by Analysts at Scotia

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective decreased by investment analysts at Scotia from $150.00 to $145.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotia’s target price indicates a potential upside of 46.89% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. National Bank Financial decreased their price target on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Raymond James Financial lowered their price target on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. Royal Bank Of Canada dropped their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Finally, Scotiabank cut their price objective on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Colliers International Group currently has an average rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Price Performance

NASDAQ:CIGI traded down $0.67 during trading hours on Friday, hitting $98.71. 109,779 shares of the stock traded hands, compared to its average volume of 310,487. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 60.57 and a beta of 1.26. Colliers International Group has a 1 year low of $88.38 and a 1 year high of $171.51. The stock has a 50 day moving average price of $96.57 and a 200 day moving average price of $109.24. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.79 by $0.04. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $1.72 EPS. The company’s revenue was up 16.7% on a year-over-year basis. Sell-side analysts forecast that Colliers International Group will post 6.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

A number of hedge funds have recently made changes to their positions in CIGI. Royal Bank of Canada grew its holdings in Colliers International Group by 3.4% during the 1st quarter. Royal Bank of Canada now owns 3,970,524 shares of the financial services provider’s stock valued at $424,409,000 after buying an additional 129,144 shares in the last quarter. Durable Capital Partners LP raised its holdings in shares of Colliers International Group by 2.0% during the 3rd quarter. Durable Capital Partners LP now owns 3,699,124 shares of the financial services provider’s stock worth $577,840,000 after acquiring an additional 73,623 shares in the last quarter. Spruce House Investment Management LLC increased its position in Colliers International Group by 93.0% in the first quarter. Spruce House Investment Management LLC now owns 2,511,000 shares of the financial services provider’s stock worth $268,387,000 after purchasing an additional 1,209,867 shares during the last quarter. Vanguard Group Inc. increased its position in Colliers International Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 1,996,018 shares of the financial services provider’s stock worth $293,379,000 after purchasing an additional 23,516 shares during the last quarter. Finally, FIL Ltd raised its stake in Colliers International Group by 5.0% during the fourth quarter. FIL Ltd now owns 1,780,980 shares of the financial services provider’s stock valued at $261,772,000 after purchasing an additional 85,078 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.