Colliers International Group (CIGI) Downgraded by BidaskClub to Hold

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other research firms have also recently weighed in on CIGI. Zacks Investment Research cut shares of Colliers International Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 2nd. ValuEngine cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Royal Bank of Canada reissued a “buy” rating and issued a $66.00 price target on shares of Colliers International Group in a report on Thursday, November 2nd. Scotiabank increased their price target on shares of Colliers International Group from $75.50 to $83.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $65.00 price target on shares of Colliers International Group in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $71.40.

Shares of Colliers International Group (NASDAQ CIGI) traded down $0.10 during trading hours on Thursday, reaching $62.20. 12,681 shares of the company traded hands, compared to its average volume of 20,639. The firm has a market cap of $2,422.04, a P/E ratio of 40.65 and a beta of 1.80. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.99 and a quick ratio of 0.99. Colliers International Group has a twelve month low of $35.85 and a twelve month high of $64.60.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.15). The company had revenue of $574.06 million during the quarter, compared to the consensus estimate of $519.20 million. Colliers International Group had a net margin of 2.81% and a return on equity of 41.41%. equities research analysts anticipate that Colliers International Group will post 2.84 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in CIGI. State of Tennessee Treasury Department bought a new position in shares of Colliers International Group during the second quarter worth approximately $201,000. FMR LLC bought a new position in shares of Colliers International Group during the second quarter worth approximately $208,000. Legal & General Group Plc increased its holdings in shares of Colliers International Group by 4.5% during the second quarter. Legal & General Group Plc now owns 4,587 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 198 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Colliers International Group during the third quarter worth approximately $326,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Colliers International Group during the third quarter worth approximately $363,000. 63.06% of the stock is currently owned by institutional investors.

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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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