BidaskClub upgraded shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) from a buy rating to a strong-buy rating in a report issued on Friday, June 30th.
Other analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed a buy rating and set a $50.00 price objective on shares of Colliers International Group in a report on Wednesday, April 5th. BMO Capital Markets reaffirmed a buy rating and set a $56.00 price objective on shares of Colliers International Group in a report on Friday, March 31st. TheStreet downgraded Colliers International Group from a b rating to a c+ rating in a research report on Tuesday, May 2nd. Zacks Investment Research downgraded Colliers International Group from a buy rating to a hold rating in a research report on Tuesday, April 18th. Finally, Scotiabank boosted their target price on Colliers International Group from $66.00 to $76.00 and gave the company an outperform rating in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $65.60.
Colliers International Group (NASDAQ:CIGI) traded down 0.28% during trading on Friday, reaching $54.35. 25,168 shares of the company’s stock traded hands. Colliers International Group has a 52-week low of $34.20 and a 52-week high of $60.75. The company’s 50 day moving average is $54.96 and its 200-day moving average is $48.67. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 28.03 and a beta of 1.74.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.11. Colliers International Group had a return on equity of 51.57% and a net margin of 3.87%. The firm had revenue of $422.80 million for the quarter, compared to analysts’ expectations of $404.95 million. During the same period in the previous year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts anticipate that Colliers International Group will post $2.82 earnings per share for the current fiscal year.
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Colliers International Group announced that its Board of Directors has authorized a stock buyback program on Thursday, July 13th that permits the company to repurchase 2,700,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The company also recently announced a semiannual dividend, which was paid on Wednesday, July 12th. Shareholders of record on Friday, June 30th were issued a $0.05 dividend. This represents a dividend yield of 0.19%. The ex-dividend date was Wednesday, June 28th. Colliers International Group’s dividend payout ratio is 5.18%.
Several large investors have recently modified their holdings of CIGI. Morgan Stanley boosted its stake in shares of Colliers International Group by 7.0% in the first quarter. Morgan Stanley now owns 422,373 shares of the financial services provider’s stock worth $19,936,000 after buying an additional 27,547 shares during the period. Norges Bank bought a new stake in shares of Colliers International Group during the fourth quarter worth $14,040,000. Blair William & Co. IL boosted its stake in shares of Colliers International Group by 6.5% in the first quarter. Blair William & Co. IL now owns 17,502 shares of the financial services provider’s stock worth $858,000 after buying an additional 1,065 shares during the period. Nationwide Fund Advisors bought a new stake in shares of Colliers International Group during the first quarter worth $2,918,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Colliers International Group during the first quarter worth $1,880,000. Institutional investors and hedge funds own 59.77% of the company’s stock.
Colliers International Group Company Profile
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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