Colliers International Group (NASDAQ:CIGI) Downgraded to “Hold” at BidaskClub

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday, BidAskClub reports.

CIGI has been the topic of several other reports. BMO Capital Markets lowered their price objective on Colliers International Group from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 29th. Zacks Investment Research lowered Colliers International Group from a “buy” rating to a “sell” rating in a research note on Tuesday, April 14th. TheStreet lowered Colliers International Group from a “b” rating to a “c+” rating in a research note on Wednesday, March 25th. reiterated a “sell” rating on shares of Colliers International Group in a research note on Wednesday, June 10th. Finally, Royal Bank of Canada lowered their price objective on Colliers International Group from $94.00 to $80.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $81.75.

CIGI traded down $0.46 on Friday, hitting $56.94. 3,208 shares of the stock traded hands, compared to its average volume of 158,030. Colliers International Group has a 52 week low of $33.93 and a 52 week high of $92.07. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $2.27 billion, a PE ratio of 21.49 and a beta of 1.64. The business has a fifty day moving average price of $54.39 and a two-hundred day moving average price of $66.32.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.37. Colliers International Group had a return on equity of 22.33% and a net margin of 3.49%. The firm had revenue of $630.60 million for the quarter, compared to analyst estimates of $659.68 million. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts forecast that Colliers International Group will post 1.16 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position in Colliers International Group by 11.8% during the 1st quarter. Royal Bank of Canada now owns 2,224,533 shares of the financial services provider’s stock worth $106,802,000 after acquiring an additional 234,924 shares during the last quarter. State of Tennessee Treasury Department grew its position in Colliers International Group by 19.7% during the 1st quarter. State of Tennessee Treasury Department now owns 53,332 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 8,761 shares during the last quarter. Van Berkom & Associates Inc. grew its position in Colliers International Group by 7.6% during the 1st quarter. Van Berkom & Associates Inc. now owns 869,075 shares of the financial services provider’s stock worth $41,239,000 after acquiring an additional 61,495 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Colliers International Group by 59.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,449,271 shares of the financial services provider’s stock worth $68,776,000 after acquiring an additional 541,191 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Colliers International Group by 151.6% during the 1st quarter. APG Asset Management N.V. now owns 77,500 shares of the financial services provider’s stock worth $3,666,000 after acquiring an additional 46,700 shares during the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.

About Colliers International Group

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.

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