Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI)‘s stock had its “outperform” rating reiterated by Royal Bank Of Canada in a report issued on Wednesday. They presently have a $62.00 price objective on the financial services provider’s stock, up from their prior price objective of $58.00. Royal Bank Of Canada’s price target points to a potential upside of 16.87% from the stock’s current price.
Several other research firms also recently commented on CIGI. Sidoti downgraded Colliers International Group from a “buy” rating to a “neutral” rating in a report on Monday, July 17th. Zacks Investment Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Colliers International Group from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Raymond James Financial, Inc. boosted their price objective on Colliers International Group from $57.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Finally, BMO Capital Markets restated an “outperform” rating and set a $60.00 price objective on shares of Colliers International Group in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Colliers International Group currently has an average rating of “Buy” and an average target price of $65.70.
Shares of Colliers International Group (NASDAQ:CIGI) traded down 0.85% during trading on Wednesday, hitting $52.60. 14,037 shares of the stock traded hands. The company has a 50-day moving average of $55.01 and a 200-day moving average of $49.22. The firm has a market cap of $2.04 billion, a P/E ratio of 31.78 and a beta of 1.73. Colliers International Group has a 52 week low of $34.20 and a 52 week high of $60.75.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.16. The firm had revenue of $544.20 million during the quarter, compared to the consensus estimate of $515.45 million. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, analysts forecast that Colliers International Group will post $2.87 EPS for the current fiscal year.
Colliers International Group announced that its Board of Directors has initiated a stock buyback program on Thursday, July 13th that authorizes the company to buyback 2,700,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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A number of large investors have recently made changes to their positions in CIGI. Morgan Stanley increased its stake in shares of Colliers International Group by 7.0% in the first quarter. Morgan Stanley now owns 422,373 shares of the financial services provider’s stock valued at $19,936,000 after buying an additional 27,547 shares during the period. Norges Bank bought a new stake in shares of Colliers International Group during the fourth quarter valued at about $14,040,000. Blair William & Co. IL increased its stake in shares of Colliers International Group by 6.5% in the first quarter. Blair William & Co. IL now owns 17,502 shares of the financial services provider’s stock valued at $858,000 after buying an additional 1,065 shares during the period. Nationwide Fund Advisors bought a new stake in shares of Colliers International Group during the first quarter valued at about $2,918,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Colliers International Group during the first quarter valued at about $1,880,000. Institutional investors and hedge funds own 59.65% of the company’s stock.
About Colliers International Group
Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.
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