National Bank Financial Issues Positive Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective lifted by equities researchers at National Bank Financial from $109.00 to $110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price objective would indicate a potential upside of 11.44% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Zacks Research upgraded shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 2nd. Scotia lowered their target price on Colliers International Group from $150.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday. Weiss Ratings cut Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Royal Bank Of Canada cut their price target on Colliers International Group from $160.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, BMO Capital Markets lowered their price objective on Colliers International Group from $180.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.56.

Colliers International Group Stock Performance

Colliers International Group stock traded down $0.67 during mid-day trading on Friday, reaching $98.71. The company’s stock had a trading volume of 109,779 shares, compared to its average volume of 310,487. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.23. Colliers International Group has a twelve month low of $88.38 and a twelve month high of $171.51. The business has a 50 day moving average price of $96.57 and a 200-day moving average price of $109.24. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 60.57 and a beta of 1.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.04. Colliers International Group had a net margin of 1.45% and a return on equity of 20.31%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm posted $1.72 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Sell-side analysts predict that Colliers International Group will post 6.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in shares of Colliers International Group by 78.1% during the first quarter. Goldman Sachs Group Inc. now owns 129,415 shares of the financial services provider’s stock valued at $15,698,000 after purchasing an additional 56,755 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Colliers International Group by 1.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 45,408 shares of the financial services provider’s stock valued at $5,508,000 after buying an additional 505 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Colliers International Group in the 2nd quarter valued at about $39,000. Arrowstreet Capital Limited Partnership increased its stake in Colliers International Group by 190.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 8,055 shares of the financial services provider’s stock valued at $1,055,000 after buying an additional 5,286 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Colliers International Group by 0.5% in the second quarter. Invesco Ltd. now owns 285,214 shares of the financial services provider’s stock valued at $37,232,000 after acquiring an additional 1,470 shares in the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

About Colliers International Group

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.