BidaskClub cut shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) from a strong-buy rating to a buy rating in a report released on Monday, July 24th.
CIGI has been the subject of a number of other reports. BMO Capital Markets reaffirmed a buy rating and issued a $56.00 price target on shares of Colliers International Group in a report on Friday, March 31st. Royal Bank Of Canada reaffirmed a buy rating and issued a $50.00 price target on shares of Colliers International Group in a report on Wednesday, April 5th. Raymond James Financial, Inc. reaffirmed an outperform rating and issued a $76.00 price target on shares of Colliers International Group in a report on Wednesday, April 12th. Zacks Investment Research cut Colliers International Group from a buy rating to a hold rating in a report on Tuesday, April 18th. Finally, Scotiabank boosted their price objective on Colliers International Group from $66.00 to $76.00 and gave the stock an outperform rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $65.70.
Colliers International Group (CIGI) traded up 0.20% during trading on Monday, hitting $49.25. 23,839 shares of the company were exchanged. Colliers International Group has a 12 month low of $34.20 and a 12 month high of $60.75. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 29.76 and a beta of 1.73. The company has a 50-day moving average of $54.67 and a 200-day moving average of $49.83.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.16. The company had revenue of $544.20 million during the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. Analysts forecast that Colliers International Group will post $2.87 EPS for the current year.
Colliers International Group declared that its board 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
Several institutional investors have recently bought and sold shares of CIGI. JPMorgan Chase & Co. bought a new position in Colliers International Group during the first quarter valued at about $230,000. Oxford Asset Management bought a new position in Colliers International Group during the first quarter valued at about $1,199,000. Hillsdale Investment Management Inc. acquired a new position in shares of Colliers International Group during the first quarter valued at about $14,540,000. Parametric Portfolio Associates LLC raised its position in shares of Colliers International Group by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock valued at $475,000 after buying an additional 1,743 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Colliers International Group during the first quarter valued at about $943,000. Institutional investors own 59.40% of the company’s stock.
Colliers International Group Company Profile
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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