BidaskClub cut shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a sell rating to a strong sell rating in a research note published on Friday morning.
A number of other brokerages also recently commented on CIGI. ValuEngine upgraded Colliers International Group from a buy rating to a strong-buy rating in a research report on Saturday, July 28th. Royal Bank of Canada boosted their target price on shares of Colliers International Group from $85.00 to $89.00 and gave the company an outperform rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research downgraded shares of Colliers International Group from a buy rating to a hold rating in a research note on Tuesday, July 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $81.00.
Shares of NASDAQ:CIGI traded up $0.71 on Friday, reaching $66.41. 46,280 shares of the company traded hands, compared to its average volume of 31,456. Colliers International Group has a fifty-two week low of $46.60 and a fifty-two week high of $84.20. The company has a market capitalization of $2.94 billion, a PE ratio of 21.99 and a beta of 1.43. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.11 and a current ratio of 1.11.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, July 31st. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.58. Colliers International Group had a return on equity of 29.50% and a net margin of 2.66%. The company had revenue of $667.40 million during the quarter, compared to the consensus estimate of $641.10 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, research analysts forecast that Colliers International Group will post 2.3 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in Colliers International Group during the 2nd quarter valued at $259,000. Paloma Partners Management Co acquired a new position in shares of Colliers International Group in the second quarter worth $325,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Colliers International Group in the second quarter worth $336,000. Legal & General Group Plc increased its stake in shares of Colliers International Group by 36.1% in the first quarter. Legal & General Group Plc now owns 8,964 shares of the financial services provider’s stock worth $622,000 after acquiring an additional 2,377 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Colliers International Group in the second quarter worth $626,000. 70.16% of the stock is currently owned by institutional investors.
About Colliers International Group
Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.
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