Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $68.88.

A number of brokerages have recently commented on CIGI. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $75.00 price objective (up previously from $59.00) on shares of Colliers International Group in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. 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. BMO Capital Markets lifted their price objective on shares of Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Sidoti raised shares of Colliers International Group from a “neutral” rating to a “buy” rating in a research report on Monday, August 14th.

Colliers International Group (CIGI) traded down 0.20% during midday trading on Friday, hitting $49.50. 31,964 shares of the company traded hands. The stock’s 50-day moving average is $51.04 and its 200-day moving average is $51.53. The firm has a market capitalization of $1.92 billion, a PE ratio of 29.91 and a beta of 1.74. Colliers International Group has a 12-month low of $34.20 and a 12-month high of $60.75.

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 for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Analysts anticipate that Colliers International Group will post $2.87 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently bought and sold shares of CIGI. Burgundy Asset Management Ltd. acquired a new stake in Colliers International Group in the 2nd quarter worth about $110,102,000. Renaissance Technologies LLC raised its stake in Colliers International Group by 23.8% in the 1st quarter. Renaissance Technologies LLC now owns 835,100 shares of the financial services provider’s stock worth $39,423,000 after purchasing an additional 160,600 shares in the last quarter. Spruce House Investment Management LLC raised its stake in Colliers International Group by 2.0% in the 1st quarter. Spruce House Investment Management LLC now owns 5,985,242 shares of the financial services provider’s stock worth $282,724,000 after purchasing an additional 117,823 shares in the last quarter. William Blair Investment Management LLC raised its stake in Colliers International Group by 7.7% in the 1st quarter. William Blair Investment Management LLC now owns 1,247,269 shares of the financial services provider’s stock worth $58,871,000 after purchasing an additional 88,869 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Colliers International Group by 42.9% in the 2nd quarter. Fiera Capital Corp now owns 276,941 shares of the financial services provider’s stock worth $15,626,000 after purchasing an additional 83,100 shares in the last quarter. Institutional investors own 63.51% of the company’s stock.

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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.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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