Colliers International Group (NASDAQ:CIGI) Price Target Lowered to $145.00 at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective trimmed by Scotiabank from $150.00 to $145.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Weiss Ratings lowered shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Raymond James Financial reduced their target price on Colliers International Group from $185.00 to $180.00 in a report on Wednesday, April 29th. National Bank Financial decreased their target price on Colliers International Group from $143.00 to $109.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Royal Bank Of Canada lowered their target price 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, BMO Capital Markets dropped their price target on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.56.

Colliers International Group Trading Down 0.8%

NASDAQ:CIGI opened at $98.55 on Friday. The company has a 50-day moving average price of $96.62 and a 200-day moving average price of $109.16. Colliers International Group has a 12 month low of $88.38 and a 12 month high of $171.51. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 46.93 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a net margin of 1.81% and a return on equity of 20.32%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts predict that Colliers International Group will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 14th. Shareholders of record on Tuesday, June 30th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, June 30th. Colliers International Group’s dividend payout ratio is 14.29%.

Hedge Funds Weigh In On Colliers International Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Colliers International Group by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider’s stock valued at $15,698,000 after purchasing an additional 56,755 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Colliers International Group by 1.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider’s stock valued at $5,508,000 after buying an additional 505 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Colliers International Group during the 2nd quarter valued at approximately $39,000. Arrowstreet Capital Limited Partnership raised its stake in Colliers International Group by 190.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 5,286 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Colliers International Group by 0.5% during the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider’s stock valued at $37,232,000 after buying an additional 1,470 shares during the last quarter. Institutional investors own 80.09% of the company’s stock.

Key Headlines Impacting Colliers International Group

Here are the key news stories impacting Colliers International Group this week:

• Positive Sentiment: Colliers reported second-quarter adjusted earnings of $1.83 per share, ahead of the $1.79 consensus estimate and up from $1.72 a year earlier. Revenue increased 16.7% year over year to $1.38 billion. Colliers International Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: National Bank Financial raised its price target from $109 to $110 and reiterated an “outperform” rating, implying approximately 11.6% upside from the referenced share price. BayStreet.CA analyst ratings
• Neutral Sentiment: Scotiabank lowered its price target from $150 to $145 but maintained a “sector outperform” rating. The reduced target is a modest negative signal, although the rating still indicates expected relative strength and substantial potential upside. Benzinga analyst ratings
• Negative Sentiment: Quarterly revenue of $1.38 billion was below the $1.48 billion analyst estimate, a 6.8% shortfall despite strong year-over-year growth. The revenue miss may be weighing on the stock more than the modest EPS beat is supporting it. Colliers International Group earnings report

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.