JPMorgan Chase & Co. Begins Coverage on Colliers International Group (NASDAQ:CIGI)

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm set a “neutral” rating and a $167.00 price target on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.40% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Colliers International Group in a research note on Friday, December 6th. They set a “neutral” rating and a $170.00 target price for the company. Scotiabank boosted their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research note on Wednesday, November 6th. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Royal Bank of Canada upped their price objective on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets upped their price objective on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and an average target price of $162.44.

Colliers International Group Price Performance

Shares of NASDAQ CIGI opened at $143.47 on Monday. The firm has a market cap of $7.24 billion, a P/E ratio of 45.69 and a beta of 1.47. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $149.87 and a 200 day moving average of $137.49. Colliers International Group has a twelve month low of $101.01 and a twelve month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. Colliers International Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, research analysts expect that Colliers International Group will post 5.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Colliers International Group

A number of institutional investors have recently bought and sold shares of CIGI. Blue Trust Inc. increased its stake in Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after buying an additional 304 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Colliers International Group by 93.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 469 shares of the financial services provider’s stock worth $52,000 after buying an additional 226 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in Colliers International Group in the 3rd quarter worth $112,000. Stonegate Investment Group LLC purchased a new stake in Colliers International Group in the 3rd quarter worth $264,000. Finally, HighTower Advisors LLC increased its stake in Colliers International Group by 13.6% in the 3rd quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock worth $323,000 after buying an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Company Profile

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.