Colliers International Group Inc (CIGI) Price Target Raised to $83.00 at Scotiabank
Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) had its price target upped by Scotiabank from $75.50 to $83.00 in a research note published on Wednesday. They currently have an outperform rating on the financial services provider’s stock.
A number of other research firms also recently issued reports on CIGI. Raymond James Financial, Inc. restated an outperform rating and issued a $75.00 price target (up from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. Royal Bank Of Canada restated an outperform rating and issued a $62.00 price target (up from $58.00) on shares of Colliers International Group in a research report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Colliers International Group from a hold rating to a strong sell rating in a research report on Monday, August 7th. ValuEngine downgraded shares of Colliers International Group from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, BidaskClub downgraded shares of Colliers International Group from a buy rating to a hold rating in a research report on Friday, August 11th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $72.25.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.16. Colliers International Group had a net margin of 3.19% and a return on equity of 7.04%. The firm had revenue of $544.20 million for the quarter, compared to the consensus estimate of $515.45 million. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s revenue was up 12.8% compared to the same quarter last year.
Colliers International Group declared that its board has initiated a share buyback program on Thursday, July 13th that allows the company to repurchase 2,700,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
Institutional investors have recently bought and sold shares of the company. State of Tennessee Treasury Department bought a new position in shares of Colliers International Group in the 2nd quarter worth about $201,000. FMR LLC bought a new stake in Colliers International Group in the 2nd quarter valued at about $208,000. Atria Investments LLC bought a new stake in Colliers International Group in the 2nd quarter valued at about $230,000. JPMorgan Chase & Co. bought a new stake in Colliers International Group in the 1st quarter valued at about $230,000. Finally, UBS Group AG lifted its position in Colliers International Group by 15.0% in the 1st quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 645 shares during the last quarter. 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.
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