Colliers International Group (NASDAQ:CIGI) Stock Rating Lowered by StockNews.com

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

Several other research analysts also recently issued reports on CIGI. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $150.00 to $160.00 in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Colliers International Group in a report on Monday, September 9th. Scotiabank raised their price target on Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday, August 2nd. BMO Capital Markets upped their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, National Bankshares upped their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Colliers International Group Stock Performance

CIGI stock opened at $146.63 on Friday. The firm has a 50 day simple moving average of $135.67 and a 200 day simple moving average of $121.18. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. Colliers International Group has a 52 week low of $83.38 and a 52 week high of $147.53. The stock has a market cap of $7.18 billion, a P/E ratio of 71.53 and a beta of 1.49.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. The business’s revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that Colliers International Group will post 5.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Colliers International Group

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Colliers International Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock worth $159,016,000 after buying an additional 5,152 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Colliers International Group by 47.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after acquiring an additional 326,453 shares during the last quarter. Victory Capital Management Inc. grew its stake in Colliers International Group by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock valued at $82,973,000 after purchasing an additional 41,225 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Colliers International Group by 48.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock worth $88,405,000 after buying an additional 228,824 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Colliers International Group by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock valued at $76,703,000 after acquiring an additional 6,178 shares during the period. 80.09% of the stock is currently 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.