Colliers International Group (CIGI) Price Target Raised to $71.00 at Royal Bank of Canada

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective increased by analysts at Royal Bank of Canada to $71.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 6.53% from the stock’s previous close.

CIGI has been the subject of a number of other research reports. ValuEngine downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Zacks Investment Research downgraded shares of Colliers International Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. BidaskClub downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Scotiabank upped their price objective on shares of Colliers International Group from $75.50 to $83.00 and gave the company an “outperform” rating in a research note on Wednesday, November 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Colliers International Group in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $72.40.

Colliers International Group (CIGI) opened at $66.65 on Thursday. The stock has a market cap of $2,320.96, a PE ratio of 43.56 and a beta of 1.74. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.48. Colliers International Group has a 1-year low of $41.25 and a 1-year high of $67.40.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.20. Colliers International Group had a net margin of 2.81% and a return on equity of 41.41%. The company had revenue of $734.25 million during the quarter, compared to the consensus estimate of $648.86 million. During the same quarter in the prior year, the company posted $1.22 EPS. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. equities research analysts predict that Colliers International Group will post 2.9 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CIGI. CIBC World Markets increased its position in Colliers International Group by 97.2% during the 4th quarter. CIBC World Markets now owns 200,868 shares of the financial services provider’s stock worth $8,949,000 after purchasing an additional 99,014 shares in the last quarter. Acadian Asset Management increased its position in Colliers International Group by 86.6% during the 4th quarter. Acadian Asset Management now owns 161,400 shares of the financial services provider’s stock worth $7,190,000 after purchasing an additional 74,897 shares in the last quarter. Russell Frank Co increased its position in Colliers International Group by 256.2% during the 4th quarter. Russell Frank Co now owns 55,273 shares of the financial services provider’s stock worth $2,471,000 after purchasing an additional 39,754 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Colliers International Group by 2.5% during the 4th quarter. Great West Life Assurance Co. Can now owns 371,924 shares of the financial services provider’s stock worth $16,634,000 after purchasing an additional 9,122 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Colliers International Group by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 97,833 shares of the financial services provider’s stock worth $4,364,000 after purchasing an additional 5,292 shares in the last quarter. 67.56% of the stock is owned by hedge funds and other institutional investors.

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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.

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