Royal Bank Of Canada reiterated their buy rating on shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) in a report released on Wednesday. The firm currently has a $62.00 price objective on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James Financial, Inc. restated an outperform rating and issued a $75.00 target price (up previously from $59.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. Sidoti upgraded shares of Colliers International Group from a neutral rating to a buy rating in a report on Monday, August 14th. BidaskClub lowered shares of Colliers International Group from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. BMO Capital Markets boosted their target price on shares of Colliers International Group from $60.00 to $63.00 and gave the company an outperform rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Colliers International Group from a strong sell rating to a hold rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $65.70.

Shares of Colliers International Group (NASDAQ:CIGI) opened at 49.70 on Wednesday. Colliers International Group has a 52-week low of $34.20 and a 52-week high of $60.75. The company has a 50 day moving average of $50.70 and a 200-day moving average of $51.52. The company has a market cap of $1.93 billion, a PE ratio of 30.03 and a beta of 1.74.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its 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. The business had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. Colliers International Group’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. Analysts forecast that Colliers International Group will post $2.87 EPS for the current fiscal year.

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Colliers International Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 13th that authorizes the company to buyback 2,700,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Burgundy Asset Management Ltd. acquired a new position in shares of Colliers International Group during the second quarter valued at about $110,102,000. Scotia Capital Inc. raised its holdings in shares of Colliers International Group by 46.4% during the second quarter. Scotia Capital Inc. now owns 7,073 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 2,242 shares during the period. Bank of Nova Scotia raised its holdings in shares of Colliers International Group by 95.4% during the second quarter. Bank of Nova Scotia now owns 10,110 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 4,937 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Colliers International Group by 32.9% during the second quarter. Goldman Sachs Group Inc. now owns 60,298 shares of the financial services provider’s stock valued at $3,405,000 after purchasing an additional 14,937 shares during the period. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Colliers International Group by 19.6% during the second quarter. Hillsdale Investment Management Inc. now owns 368,450 shares of the financial services provider’s stock valued at $20,833,000 after purchasing an additional 60,500 shares during the period. Hedge funds and other institutional investors own 63.51% 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.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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