Colliers International Group (NASDAQ:CIGI) Given New $160.00 Price Target at Royal Bank of Canada

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price hoisted by Royal Bank of Canada from $145.00 to $160.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s price target suggests a potential upside of 17.46% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank upped their price target on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price objective for the company from $150.00 to $160.00 in a research note on Friday. Finally, BMO Capital Markets upped their price objective on shares of Colliers International Group from $140.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Colliers International Group has an average rating of “Moderate Buy” and an average target price of $155.83.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $136.22 on Friday. Colliers International Group has a twelve month low of $83.38 and a twelve month high of $140.52. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 66.45 and a beta of 1.50. The firm has a 50-day moving average of $117.95 and a two-hundred day moving average of $116.90.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Colliers International Group had a net margin of 3.20% and a return on equity of 25.35%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $989.03 million. As a group, analysts expect that Colliers International Group will post 5.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

A number of large investors have recently made changes to their positions in the business. National Bank of Canada FI increased its holdings in shares of Colliers International Group by 2.1% in the 2nd quarter. National Bank of Canada FI now owns 69,729 shares of the financial services provider’s stock valued at $7,514,000 after purchasing an additional 1,465 shares during the period. TD Asset Management Inc increased its holdings in shares of Colliers International Group by 1.0% in the 2nd quarter. TD Asset Management Inc now owns 204,915 shares of the financial services provider’s stock valued at $22,878,000 after purchasing an additional 2,044 shares during the period. Intact Investment Management Inc. acquired a new position in shares of Colliers International Group in the 2nd quarter valued at about $6,970,000. Hantz Financial Services Inc. acquired a new position in shares of Colliers International Group in the 2nd quarter valued at about $567,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Colliers International Group by 11.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 125,389 shares of the financial services provider’s stock valued at $14,000,000 after purchasing an additional 12,920 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.