Colliers International Group Inc. (NASDAQ:CIGI) Upgraded at Sidoti
Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was upgraded by stock analysts at Sidoti from a “neutral” rating to a “buy” rating in a note issued to investors on Monday.
Several other brokerages have also weighed in on CIGI. Raymond James Financial, Inc. reissued an “outperform” rating and set a $75.00 price objective (up previously from $59.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. Zacks Investment Research lowered Colliers International Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. BidaskClub lowered Colliers International Group from a “buy” rating to a “hold” rating in a report on Friday. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price objective (up previously from $58.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. Finally, BMO Capital Markets lifted their price objective on Colliers International Group from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. Colliers International Group has a consensus rating of “Buy” and an average target price of $65.70.
Shares of Colliers International Group (NASDAQ CIGI) traded up 4.06% during mid-day trading on Monday, hitting $51.25. The stock had a trading volume of 46,609 shares. Colliers International Group has a one year low of $34.20 and a one year high of $60.75. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 30.97 and a beta of 1.73. The company has a 50-day moving average of $54.67 and a 200 day moving average of $49.83.
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 Zacks’ consensus estimate of $0.57 by $0.16. The firm had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. On average, equities research analysts forecast that Colliers International Group will post $2.87 earnings per share for the current year.
Colliers International Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 13th that allows the company to repurchase 2,700,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
TRADEMARK VIOLATION WARNING: “Colliers International Group Inc. (NASDAQ:CIGI) Upgraded at Sidoti” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and reposted in violation of United States and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/08/14/colliers-international-group-inc-nasdaqcigi-upgraded-at-sidoti.html.
A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in 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 during the last quarter. State of Tennessee Treasury Department bought a new stake in shares of Colliers International Group during the second quarter worth approximately $201,000. FMR LLC bought a new stake in shares of Colliers International Group during the second quarter worth approximately $208,000. JPMorgan Chase & Co. bought a new stake in shares of Colliers International Group during the first quarter worth approximately $230,000. Finally, Atria Investments LLC bought a new stake in shares of Colliers International Group during the second quarter worth approximately $230,000. Hedge funds and other institutional investors own 59.59% 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.
Receive News & Ratings for Colliers International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.