Zacks Investment Research Lowers Colliers International Gr (CIGI) to Hold

Colliers International Gr (NASDAQ:CIGI) (TSE:CIGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “

Several other research firms also recently weighed in on CIGI. BidaskClub upgraded shares of Colliers International Gr from a “hold” rating to a “buy” rating in a research report on Saturday, March 17th. William Blair reiterated an “outperform” rating on shares of Colliers International Gr in a report on Thursday, February 1st. Royal Bank of Canada increased their price objective on shares of Colliers International Gr from $66.00 to $71.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. ValuEngine upgraded shares of Colliers International Gr from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Raymond James increased their price objective on shares of Colliers International Gr from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $79.40.

Shares of Colliers International Gr traded down $0.10, hitting $76.40, during mid-day trading on Thursday, according to MarketBeat Ratings. 32,500 shares of the company were exchanged, compared to its average volume of 33,811. Colliers International Gr has a 1-year low of $75.80 and a 1-year high of $76.35. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.35. The company has a market cap of $2.85 billion, a PE ratio of 25.30 and a beta of 1.55.

Colliers International Gr (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.39. Colliers International Gr had a net margin of 2.25% and a return on equity of 33.81%. The firm had revenue of $552.50 million during the quarter, compared to the consensus estimate of $474.15 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. sell-side analysts expect that Colliers International Gr will post 2.08 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in CIGI. Beutel Goodman & Co Ltd. acquired a new stake in Colliers International Gr in the 4th quarter valued at about $117,633,000. The Manufacturers Life Insurance Company raised its holdings in Colliers International Gr by 117.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 567,921 shares of the financial services provider’s stock valued at $39,442,000 after acquiring an additional 306,471 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Colliers International Gr by 305.1% in the 4th quarter. Mackenzie Financial Corp now owns 305,329 shares of the financial services provider’s stock valued at $18,427,000 after buying an additional 229,960 shares during the period. Fiera Capital Corp grew its stake in shares of Colliers International Gr by 37.1% in the 1st quarter. Fiera Capital Corp now owns 414,743 shares of the financial services provider’s stock valued at $28,751,000 after buying an additional 112,238 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Colliers International Gr by 1,684.8% in the 1st quarter. Russell Investments Group Ltd. now owns 107,784 shares of the financial services provider’s stock valued at $7,460,000 after buying an additional 101,745 shares during the period. Institutional investors own 72.17% of the company’s stock.

About Colliers International Gr

Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.

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