Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a report released on Thursday. They presently have a $66.00 price target on the financial services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 12.53% from the stock’s current price.

CIGI has been the topic of a number of other research reports. Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $75.00 target price (up previously from $59.00) on shares of Colliers International Group in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Colliers International Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. ValuEngine lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Scotiabank reduced their target price on Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Finally, BidaskClub lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $72.25.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.16. Colliers International Group had a return on equity of 7.04% and a net margin of 3.19%. The firm had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. During the same quarter in the prior year, the company earned $0.63 EPS. Colliers International Group’s revenue was up 12.8% on a year-over-year basis.

Colliers International Group declared that its Board of Directors has authorized a share repurchase program on Thursday, July 13th that allows the company to buyback 2,700,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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Several institutional investors have recently modified their holdings of CIGI. Legal & General Group Plc lifted its stake in shares of Colliers International Group by 65.1% during the 1st quarter. Legal & General Group Plc now owns 2,789 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 1,100 shares during the period. Acrospire Investment Management LLC lifted its stake in shares of Colliers International Group by 141.9% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,594 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 2,108 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Colliers International Group by 139.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,665 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,552 shares during the period. State of Tennessee Treasury Department purchased a new position in shares of Colliers International Group during the 2nd quarter worth $201,000. Finally, FMR LLC purchased a new position in shares of Colliers International Group during the 2nd quarter worth $208,000. 63.51% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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