Colliers International Group Inc. (CIGI) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) from a sell rating to a hold rating in a research report released on Tuesday morning.
According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “
Other research analysts also recently issued reports about the stock. Royal Bank Of Canada set a $58.00 price objective on shares of Colliers International Group and gave the stock a buy rating in a research report on Monday, June 26th. BidaskClub cut shares of Colliers International Group from a strong-buy rating to a buy rating in a report on Tuesday, June 13th. ValuEngine raised shares of Colliers International Group from a hold rating to a buy rating in a report on Friday, September 1st. Sidoti raised shares of Colliers International Group from a neutral rating to a buy rating in a report on Monday, August 14th. Finally, Scotiabank decreased their target price on shares of Colliers International Group from $76.00 to $75.50 and set an outperform rating for the company in a research note on Thursday, August 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Colliers International Group currently has an average rating of Buy and an average price target of $65.70.
Shares of Colliers International Group (NASDAQ CIGI) traded up 0.80% during trading on Tuesday, hitting $50.70. The stock had a trading volume of 24,595 shares. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 30.63 and a beta of 1.73. Colliers International Group has a 12-month low of $34.20 and a 12-month high of $60.75. The stock’s 50-day moving average is $49.93 and its 200-day moving average is $51.57.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $515.45 million. During the same period in the previous year, the company posted $0.63 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Colliers International Group will post $2.87 EPS for the current year.
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Colliers International Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 13th that permits the company to repurchase 2,700,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of institutional investors have recently made changes to their positions in the business. Burgundy Asset Management Ltd. purchased a new position in Colliers International Group during the 2nd quarter worth $110,102,000. William Blair Investment Management LLC boosted its holdings in shares of Colliers International Group by 5.9% in the second quarter. William Blair Investment Management LLC now owns 1,321,032 shares of the financial services provider’s stock valued at $74,572,000 after acquiring an additional 73,763 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Colliers International Group by 5.1% in the second quarter. Renaissance Technologies LLC now owns 877,900 shares of the financial services provider’s stock valued at $49,560,000 after acquiring an additional 42,800 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Colliers International Group by 4.1% in the second quarter. Vanguard Group Inc. now owns 801,789 shares of the financial services provider’s stock valued at $45,262,000 after acquiring an additional 31,716 shares in the last quarter. Finally, Morgan Stanley boosted its holdings 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 valued at $19,936,000 after acquiring an additional 27,547 shares in the last quarter. Institutional investors own 63.51% of the company’s stock.
About Colliers International Group
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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