Scotiabank Cuts Colliers International Group (NASDAQ:CIGI) Price Target to $170.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective dropped by research analysts at Scotiabank from $172.50 to $170.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price would suggest a potential upside of 20.77% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on CIGI. Royal Bank of Canada increased their price target on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Colliers International Group in a report on Friday, December 6th. They issued a “neutral” rating and a $170.00 target price for the company. Four 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 company. Based on data from MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average price target of $164.63.

Colliers International Group Trading Down 2.0 %

Shares of Colliers International Group stock opened at $140.76 on Tuesday. Colliers International Group has a 1-year low of $101.01 and a 1-year high of $156.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market cap of $7.10 billion, a P/E ratio of 44.83 and a beta of 1.49. The stock’s 50 day simple moving average is $141.63 and its 200-day simple moving average is $143.01.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $1.10 EPS. Analysts predict that Colliers International Group will post 5.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP acquired a new stake in Colliers International Group in the 4th quarter valued at about $354,000. Empowered Funds LLC increased its stake in shares of Colliers International Group by 31.0% during the fourth quarter. Empowered Funds LLC now owns 16,265 shares of the financial services provider’s stock worth $2,212,000 after buying an additional 3,850 shares during the period. Triasima Portfolio Management inc. raised its holdings in Colliers International Group by 8.7% in the fourth quarter. Triasima Portfolio Management inc. now owns 15,058 shares of the financial services provider’s stock valued at $2,047,000 after acquiring an additional 1,200 shares in the last quarter. Tobam lifted its stake in Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 98 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in Colliers International Group by 3.9% during the 4th quarter. Cibc World Market Inc. now owns 219,317 shares of the financial services provider’s stock worth $29,814,000 after acquiring an additional 8,148 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

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.