Colliers International Group Inc. (CIGI) Stock Rating Upgraded by Zacks Investment Research
Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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 “
CIGI has been the topic of several other research reports. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub raised Colliers International Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Scotiabank cut their target price on Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $62.00 target price (up previously from $58.00) on shares of Colliers International Group in a research note on Tuesday, August 8th. Finally, BMO Capital Markets increased their target price on Colliers International Group from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $68.88.
Shares of Colliers International Group (NASDAQ CIGI) traded up 0.69% during midday trading on Tuesday, reaching $50.90. 7,078 shares of the company’s stock traded hands. The firm has a market capitalization of $1.98 billion, a P/E ratio of 30.76 and a beta of 1.73. Colliers International Group has a 52-week low of $34.20 and a 52-week high of $60.75. The stock’s 50 day moving average price is $49.92 and its 200 day moving average price is $51.56.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. Colliers International Group had a return on equity of 49.70% and a net margin of 3.23%. The firm had revenue of $544.20 million for the quarter, compared to analyst estimates of $515.45 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Colliers International Group will post $2.87 EPS for the current fiscal year.
Colliers International Group announced that its board has approved a share buyback program on Thursday, July 13th that allows the company to buyback 2,700,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Colliers International Group by 7.0% during the first quarter. Morgan Stanley now owns 422,373 shares of the financial services provider’s stock worth $19,936,000 after purchasing an additional 27,547 shares during the period. Blair William & Co. IL raised its position in shares of Colliers International Group by 6.5% during the first quarter. Blair William & Co. IL now owns 17,502 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 1,065 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Colliers International Group by 21.4% during the first quarter. Dimensional Fund Advisors LP now owns 73,251 shares of the financial services provider’s stock worth $3,457,000 after purchasing an additional 12,913 shares during the period. Tobam acquired a new stake in shares of Colliers International Group during the second quarter worth about $300,000. Finally, Freestone Capital Holdings LLC raised its position in shares of Colliers International Group by 7.1% during the second quarter. Freestone Capital Holdings LLC now owns 85,643 shares of the financial services provider’s stock worth $4,835,000 after purchasing an additional 5,653 shares during the period. 63.51% of the stock is currently owned by institutional investors.
Colliers International Group Company Profile
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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