Colliers International Group Inc (NASDAQ:CIGI) Given Average Recommendation of “Buy” by Brokerages

Shares of Colliers International Group Inc (NASDAQ:CIGI) (TSE:CIGI) have received an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $77.22.

A number of research analysts have weighed in on CIGI shares. Royal Bank of Canada decreased their target price on shares of Colliers International Group from $87.00 to $83.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 30th. BidaskClub lowered shares of Colliers International Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Zacks Investment Research lowered shares of Colliers International Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 16th. ValuEngine lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 9th. Finally, Raymond James set a $85.00 target price on shares of Colliers International Group and gave the stock an “outperform” rating in a research note on Monday, April 29th.

CIGI opened at $71.62 on Friday. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $65.17. Colliers International Group has a 1-year low of $52.01 and a 1-year high of $84.20. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 29.23 and a beta of 1.45.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Friday, April 26th. The financial services provider reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.23). Colliers International Group had a return on equity of 25.61% and a net margin of 3.24%. The business had revenue of $635.10 million during the quarter, compared to analysts’ expectations of $628.75 million. During the same period last year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts forecast that Colliers International Group will post 3.11 EPS for the current year.

The company also recently declared a semiannual dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a dividend yield of 0.16%. Colliers International Group’s dividend payout ratio is currently 4.08%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. acquired a new stake in shares of Colliers International Group during the 4th quarter worth approximately $41,000. CIBC World Markets Inc. increased its holdings in shares of Colliers International Group by 37.0% during the 1st quarter. CIBC World Markets Inc. now owns 257,978 shares of the financial services provider’s stock worth $17,223,000 after buying an additional 69,655 shares during the last quarter. Gluskin Sheff & Assoc Inc. increased its holdings in shares of Colliers International Group by 15.1% during the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 70,839 shares of the financial services provider’s stock worth $3,907,000 after buying an additional 9,295 shares during the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Colliers International Group by 1.2% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 247,230 shares of the financial services provider’s stock worth $13,626,000 after buying an additional 3,051 shares during the last quarter. Finally, Pembroke Management LTD increased its holdings in shares of Colliers International Group by 101.3% during the 1st quarter. Pembroke Management LTD now owns 465,200 shares of the financial services provider’s stock worth $41,528,000 after buying an additional 234,050 shares during the last quarter. Institutional investors and hedge funds own 68.33% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

Further Reading: How is inflation measured?

Receive News & Ratings for Colliers International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group and related companies with MarketBeat.com's FREE daily email newsletter.