ValuEngine Upgrades Colliers International Group (NASDAQ:CIGI) to Buy

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Thursday, ValuEngine reports.

CIGI has been the topic of a number of other reports. BidaskClub upgraded shares of Colliers International Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada reduced their price target on shares of Colliers International Group from $87.00 to $83.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Colliers International Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, Raymond James set a $85.00 price target on shares of Colliers International Group and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.33.

Shares of CIGI stock traded down $0.31 during trading on Thursday, hitting $72.36. The company had a trading volume of 36,955 shares, compared to its average volume of 64,795. Colliers International Group has a 52 week low of $52.01 and a 52 week high of $84.20. The company has a quick ratio of 1.03, a current ratio of 0.88 and a debt-to-equity ratio of 2.17. The business’s 50-day simple moving average is $72.40. The firm has a market cap of $2.78 billion, a PE ratio of 29.53 and a beta of 1.54.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.23). Colliers International Group had a net margin of 3.15% and a return on equity of 23.99%. The business had revenue of $745.50 million for the quarter, compared to the consensus estimate of $750.85 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, research analysts anticipate that Colliers International Group will post 3.11 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. William Blair Investment Management LLC boosted its stake in shares of Colliers International Group by 0.5% during the first quarter. William Blair Investment Management LLC now owns 1,041,494 shares of the financial services provider’s stock valued at $69,530,000 after purchasing an additional 5,633 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Colliers International Group by 3.7% during the first quarter. The Manufacturers Life Insurance Company now owns 814,629 shares of the financial services provider’s stock valued at $54,385,000 after purchasing an additional 29,042 shares during the period. Waratah Capital Advisors Ltd. boosted its stake in shares of Colliers International Group by 23.0% during the second quarter. Waratah Capital Advisors Ltd. now owns 505,099 shares of the financial services provider’s stock valued at $36,137,000 after purchasing an additional 94,365 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Colliers International Group by 15.6% during the first quarter. CIBC Asset Management Inc now owns 478,787 shares of the financial services provider’s stock valued at $31,983,000 after purchasing an additional 64,681 shares during the period. Finally, Pembroke Management LTD boosted its stake in shares of Colliers International Group by 101.3% during the first quarter. Pembroke Management LTD now owns 465,200 shares of the financial services provider’s stock valued at $41,528,000 after purchasing an additional 234,050 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

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Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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