Scotiabank Issues Pessimistic Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target lowered by Scotiabank from $165.00 to $155.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective indicates a potential upside of 26.00% from the company’s previous close.

Several other research analysts also recently commented on CIGI. JPMorgan Chase & Co. reduced their target price on Colliers International Group from $167.00 to $142.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. CIBC began coverage on shares of Colliers International Group in a report on Tuesday, March 4th. They issued a “sector outperform” rating and a $160.00 target price for the company. The Goldman Sachs Group decreased their price target on shares of Colliers International Group from $165.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada lifted their target price on Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.80.

Colliers International Group Stock Up 1.8 %

Shares of NASDAQ CIGI opened at $123.02 on Wednesday. Colliers International Group has a 52-week low of $100.86 and a 52-week high of $156.96. The stock has a market cap of $6.06 billion, a P/E ratio of 38.56 and a beta of 1.38. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a 50 day moving average price of $118.87 and a 200 day moving average price of $133.65.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, May 6th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). The firm had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.15 billion. Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Colliers International Group’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. Analysts expect that Colliers International Group will post 6.2 EPS for the current year.

Institutional Trading of Colliers International Group

Several large investors have recently modified their holdings of CIGI. Barclays PLC purchased a new stake in shares of Colliers International Group in the 3rd quarter worth about $1,629,000. Argent Capital Management LLC lifted its stake in shares of Colliers International Group by 16.5% in the 4th quarter. Argent Capital Management LLC now owns 44,807 shares of the financial services provider’s stock worth $6,092,000 after purchasing an additional 6,330 shares during the period. Canoe Financial LP lifted its position in shares of Colliers International Group by 544.7% during the 4th quarter. Canoe Financial LP now owns 40,696 shares of the financial services provider’s stock valued at $5,530,000 after buying an additional 34,384 shares in the last quarter. Addenda Capital Inc. increased its stake in Colliers International Group by 7.6% in the 4th quarter. Addenda Capital Inc. now owns 175,780 shares of the financial services provider’s stock worth $23,901,000 after buying an additional 12,415 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of Colliers International Group by 65.1% during the fourth quarter. Blue Trust Inc. now owns 1,539 shares of the financial services provider’s stock worth $209,000 after purchasing an additional 607 shares in the last quarter. 80.09% of the stock is owned by institutional investors.

About Colliers International Group

Colliers International Group Inc provides commercial real estate professional and investment management services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers outsourcing and advisory services, such as engineering and project management, property management, valuation, and other services, as well as loan servicing for commercial real estate clients.