Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage presently has a $78.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 14.05% from the company’s current price.
According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “
A number of other analysts have also commented on the company. BidaskClub raised Colliers International Group from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Raymond James set a $85.00 target price on Colliers International Group and gave the company a “buy” rating in a research report on Wednesday, October 31st. Royal Bank of Canada decreased their target price on Colliers International Group from $89.00 to $87.00 and set an “outperform” rating for the company in a research report on Wednesday, October 31st. Finally, ValuEngine lowered Colliers International Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $83.33.
Shares of Colliers International Group stock opened at $68.39 on Monday. Colliers International Group has a one year low of $46.60 and a one year high of $84.20. The stock has a market capitalization of $2.57 billion, a P/E ratio of 26.87 and a beta of 1.49. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.06 and a quick ratio of 1.06.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, October 30th. The financial services provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.60. Colliers International Group had a return on equity of 31.08% and a net margin of 2.96%. The business had revenue of $715.70 million during the quarter, compared to analyst estimates of $698.53 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Analysts expect that Colliers International Group will post 2.5 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of CIGI. Dimensional Fund Advisors LP increased its holdings in Colliers International Group by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 102,367 shares of the financial services provider’s stock worth $7,109,000 after purchasing an additional 7,186 shares in the last quarter. Legal & General Group Plc increased its holdings in Colliers International Group by 36.1% during the 1st quarter. Legal & General Group Plc now owns 8,964 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 2,377 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Colliers International Group by 106.2% during the 1st quarter. Allianz Asset Management GmbH now owns 30,946 shares of the financial services provider’s stock worth $2,147,000 after purchasing an additional 15,937 shares in the last quarter. Fenimore Asset Management Inc. bought a new stake in Colliers International Group during the 2nd quarter worth approximately $7,528,000. Finally, Greystone Managed Investments Inc. bought a new stake in Colliers International Group during the 2nd quarter worth approximately $17,672,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
About Colliers International Group
Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.
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