Colliers International Group Inc. (CIGI) Given Consensus Rating of “Buy” by Analysts
Shares of Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) have received a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $68.88.
CIGI has been the subject of a number of recent research reports. BidaskClub downgraded Colliers International Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $58.00 price objective on Colliers International Group and gave the stock a “buy” rating in a research note on Monday, June 26th. Zacks Investment Research upgraded Colliers International Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Sidoti downgraded Colliers International Group from a “buy” rating to a “neutral” rating in a research note on Monday, July 17th. Finally, BMO Capital Markets upped their price objective on Colliers International Group from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd.
Shares of Colliers International Group (NASDAQ CIGI) traded up 1.97% during trading on Wednesday, hitting $54.35. 13,520 shares of the stock were exchanged. Colliers International Group has a one year low of $34.20 and a one year high of $60.75. The stock has a market cap of $2.04 billion, a PE ratio of 32.54 and a beta of 1.73. The stock’s 50 day moving average price is $50.16 and its 200 day moving average price is $51.69.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.16. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The business had revenue of $544.20 million during the quarter, compared to the consensus estimate of $515.45 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Colliers International Group will post $2.87 EPS for the current year.
Colliers International Group announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 13th that authorizes the company to buyback 2,700,000 shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds and other institutional investors have recently made changes to their positions in CIGI. Russell Investments Group Ltd. purchased a new stake in shares of Colliers International Group during the first quarter valued at $590,000. Karp Capital Management Corp acquired a new position in Colliers International Group during the first quarter valued at $943,000. Parametric Portfolio Associates LLC raised its position in Colliers International Group by 21.0% during the first quarter. Parametric Portfolio Associates LLC now owns 10,062 shares of the financial services provider’s stock valued at $475,000 after buying an additional 1,743 shares during the period. JPMorgan Chase & Co. acquired a new position in Colliers International Group during the first quarter valued at $230,000. Finally, Vanguard Group Inc. raised its position in Colliers International Group by 6.0% during the first quarter. Vanguard Group Inc. now owns 770,073 shares of the financial services provider’s stock valued at $36,347,000 after buying an additional 43,721 shares during the period. 63.51% of the stock is owned by institutional investors and hedge funds.
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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