Raymond James Lowers Colliers International Group (NASDAQ:CIGI) to Outperform

Raymond James cut shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a strong-buy rating to an outperform rating in a report released on Friday, Marketbeat.com reports. The firm currently has $160.00 target price on the financial services provider’s stock, up from their prior target price of $150.00.

CIGI has been the topic of several other reports. BMO Capital Markets upped their price objective on shares of Colliers International Group from $137.00 to $140.00 and gave the stock an outperform rating in a report on Tuesday, June 4th. Royal Bank of Canada restated an outperform rating and set a $145.00 price target on shares of Colliers International Group in a research note on Tuesday, June 4th. Finally, Scotiabank lifted their price objective on Colliers International Group from $135.00 to $150.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $155.83.

Colliers International Group Trading Up 2.0 %

NASDAQ:CIGI traded up $2.68 on Friday, reaching $134.54. The company’s stock had a trading volume of 163,498 shares, compared to its average volume of 119,239. Colliers International Group has a 12-month low of $83.38 and a 12-month high of $140.52. The stock has a 50 day moving average price of $117.95 and a 200 day moving average price of $116.99. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 64.32 and a beta of 1.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). Colliers International Group had a return on equity of 25.35% and a net margin of 3.20%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Colliers International Group will post 5.51 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.15 dividend. The ex-dividend date was Friday, June 28th. This represents a dividend yield of 0.3%. Colliers International Group’s dividend payout ratio (DPR) is 14.63%.

Institutional Trading of Colliers International Group

Several hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. lifted its stake in Colliers International Group by 575.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 207 shares during the last quarter. Blue Trust Inc. increased its position in shares of Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Colliers International Group by 252.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 316 shares in the last quarter. Tobam purchased a new stake in shares of Colliers International Group during the 4th quarter worth $58,000. Finally, Security National Bank acquired a new position in shares of Colliers International Group during the fourth quarter worth $70,000. 80.09% of the stock is currently owned by institutional investors and hedge funds.

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.