Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts also recently issued reports on CIGI. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $75.00 price target (up previously from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a research report on Monday. BMO Capital Markets lifted their price target on shares of Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 price target (up previously from $58.00) on shares of Colliers International Group in a research report on Tuesday. Finally, Scotiabank reduced their price target on shares of Colliers International Group from $76.00 to $75.50 and set an “outperform” rating for the company in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $65.70.

Colliers International Group (CIGI) traded up 0.59% during midday trading on Friday, hitting $49.44. 10,012 shares of the company were exchanged. The firm’s 50-day moving average price is $54.79 and its 200-day moving average price is $49.74. The stock has a market capitalization of $1.92 billion, a PE ratio of 29.87 and a beta of 1.73. Colliers International Group has a one year low of $34.20 and a one year high of $60.75.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.16. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The business had revenue of $544.20 million during the quarter, compared to the consensus estimate of $515.45 million. During the same quarter last year, the firm posted $0.63 EPS. Colliers International Group’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts anticipate that Colliers International Group will post $2.87 earnings per share for the current year.

Colliers International Group declared that its board has initiated a share buyback program on Thursday, July 13th that permits the company to buyback 2,700,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of institutional investors have recently bought and sold shares of CIGI. Blair William & Co. IL increased its position in 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 in the last quarter. JPMorgan Chase & Co. purchased a new position in Colliers International Group during the first quarter worth about $230,000. Oxford Asset Management purchased a new position in Colliers International Group during the first quarter worth about $1,199,000. Hillsdale Investment Management Inc. purchased a new position in Colliers International Group during the first quarter worth about $14,540,000. Finally, Parametric Portfolio Associates LLC increased its position in Colliers International Group by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock worth $475,000 after buying an additional 1,743 shares in the last quarter. 59.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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