Colliers International Group Inc. (CIGI) Receives $68.75 Average PT from Analysts

Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) have been given an average rating of “Buy” by the eight analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $68.75.

A number of equities analysts have recently commented on CIGI shares. Zacks Investment Research raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a research note on Wednesday, February 22nd. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $76.00 target price on shares of Colliers International Group in a research note on Wednesday, April 12th. TheStreet downgraded shares of Colliers International Group from a “b” rating to a “c+” rating in a research note on Tuesday, May 2nd. Scotiabank lifted their price target on shares of Colliers International Group from $66.00 to $76.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Finally, CIBC raised shares of Colliers International Group from a “sector perform” rating to a “sector outperform” rating in a research note on Thursday, February 16th.

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Shares of Colliers International Group (NASDAQ:CIGI) traded down 0.28% during midday trading on Tuesday, hitting $52.55. The stock had a trading volume of 51,028 shares. The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 27.10 and a beta of 1.74. Colliers International Group has a 52-week low of $32.93 and a 52-week high of $55.40. The firm’s 50 day moving average price is $52.68 and its 200 day moving average price is $44.97.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its earnings results on Tuesday, May 2nd. The financial services provider reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. Colliers International Group had a net margin of 3.87% and a return on equity of 51.57%. The business had revenue of $422.80 million for the quarter, compared to the consensus estimate of $404.95 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group will post $2.82 earnings per share for the current year.

The business also recently announced a semiannual dividend, which will be paid on Wednesday, July 12th. Stockholders of record on Friday, June 30th will be given a $0.05 dividend. This represents a dividend yield of 0.19%. The ex-dividend date is Wednesday, June 28th. Colliers International Group’s payout ratio is currently 5.18%.

Several large investors have recently added to or reduced their stakes in CIGI. Norges Bank bought a new stake in Colliers International Group during the fourth quarter valued at $14,040,000. Hillsdale Investment Management Inc. bought a new stake in Colliers International Group during the first quarter valued at $14,540,000. Renaissance Technologies LLC increased its stake in Colliers International Group by 23.8% in the first quarter. Renaissance Technologies LLC now owns 835,100 shares of the financial services provider’s stock valued at $39,423,000 after buying an additional 160,600 shares during the last quarter. Spruce House Investment Management LLC increased its stake in Colliers International Group by 2.0% in the first quarter. Spruce House Investment Management LLC now owns 5,985,242 shares of the financial services provider’s stock valued at $282,724,000 after buying an additional 117,823 shares during the last quarter. Finally, BloombergSen Inc. increased its stake in Colliers International Group by 6.8% in the third quarter. BloombergSen Inc. now owns 1,726,128 shares of the financial services provider’s stock valued at $72,618,000 after buying an additional 110,500 shares during the last quarter. 57.83% of the stock is owned by institutional investors.

About Colliers International Group

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

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