Colliers International Group (NASDAQ:CIGI) Price Target Lowered to $170.00 at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective trimmed by Scotiabank from $172.50 to $170.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a sector outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on CIGI. JPMorgan Chase & Co. began coverage on shares of Colliers International Group in a report on Monday, December 16th. They issued a “neutral” rating and a $167.00 price objective for the company. Royal Bank of Canada boosted their price objective on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Raymond James upped their price target on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Colliers International Group in a report on Friday, December 6th. They set a “neutral” rating and a $170.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Colliers International Group currently has an average rating of “Moderate Buy” and an average target price of $164.63.

Colliers International Group Stock Down 0.4 %

Shares of CIGI opened at $143.70 on Tuesday. Colliers International Group has a 52 week low of $101.01 and a 52 week high of $156.96. The firm has a market cap of $7.25 billion, a P/E ratio of 45.76 and a beta of 1.49. The firm’s 50-day simple moving average is $141.66 and its 200 day simple moving average is $143.02. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. On average, analysts forecast that Colliers International Group will post 5.41 earnings per share for the current year.

Colliers International Group Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a $0.15 dividend. This represents a yield of 0.2%. The ex-dividend date was Tuesday, December 31st. Colliers International Group’s payout ratio is 9.55%.

Hedge Funds Weigh In On Colliers International Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIGI. Janus Henderson Group PLC bought a new position in Colliers International Group in the 3rd quarter valued at approximately $69,920,000. Franklin Resources Inc. lifted its stake in Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after purchasing an additional 340,691 shares during the last quarter. Clearbridge Investments LLC increased its position in Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after acquiring an additional 148,265 shares during the period. Loomis Sayles & Co. L P raised its stake in shares of Colliers International Group by 55.5% during the third quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock valued at $54,461,000 after acquiring an additional 128,005 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Colliers International Group by 114.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 161,800 shares of the financial services provider’s stock worth $24,552,000 after purchasing an additional 86,469 shares during the period. Institutional investors own 80.09% of the company’s stock.

About Colliers International Group

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.