Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday.

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 “

CIGI has been the subject of several other reports. Raymond James Financial, Inc. reissued an “outperform” rating and set a $75.00 target price (up from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BidaskClub raised shares of Colliers International Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. 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 report on Thursday. Sidoti downgraded shares of Colliers International Group from a “buy” rating to a “neutral” rating in a research report on Monday, July 17th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $60.00 target price on shares of Colliers International Group in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $65.70.

Colliers International Group (NASDAQ:CIGI) traded up 0.86% during trading on Monday, hitting $52.50. 35,171 shares of the stock were exchanged. The firm has a market cap of $2.04 billion, a PE ratio of 31.72 and a beta of 1.73. The firm’s 50-day moving average is $55.01 and its 200 day moving average is $49.22. Colliers International Group has a 52 week low of $34.20 and a 52 week high of $60.75.

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

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

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A number of large investors have recently modified their holdings of CIGI. Tower Research Capital LLC TRC boosted its stake in shares of Colliers International Group by 60.3% in the first quarter. Tower Research Capital LLC TRC now owns 3,485 shares of the financial services provider’s stock worth $165,000 after buying an additional 1,311 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Colliers International Group during the second quarter worth $230,000. JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group during the first quarter worth $230,000. UBS Group AG boosted its stake in shares of Colliers International Group by 15.0% in the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock worth $234,000 after buying an additional 645 shares in the last quarter. Finally, Ativo Capital Management LLC bought a new stake in shares of Colliers International Group during the first quarter worth $236,000. 59.40% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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