Scotiabank Lowers Colliers International Group (NASDAQ:CIGI) Price Target to $165.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target cut by research analysts at Scotiabank from $166.00 to $165.00 in a report released on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price points to a potential upside of 37.67% from the stock’s previous close.

CIGI has been the topic of several other research reports. CIBC assumed coverage on shares of Colliers International Group in a research report on Tuesday, March 4th. They set a “sector outperform” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a research note on Monday, December 16th. They issued a “neutral” rating and a $167.00 price target for the company. The Goldman Sachs Group reduced their price objective on Colliers International Group from $165.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. BMO Capital Markets lowered their target price on Colliers International Group from $177.00 to $172.00 and set a “market perform” rating for the company in a research note on Friday, February 7th. Finally, StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.30.

Colliers International Group Trading Down 0.3 %

CIGI stock traded down $0.34 during trading on Monday, reaching $119.85. 21,851 shares of the stock were exchanged, compared to its average volume of 113,258. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 37.57 and a beta of 1.58. The business has a 50 day moving average price of $130.73 and a 200-day moving average price of $140.51. Colliers International Group has a 1 year low of $101.01 and a 1 year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.38%. On average, research analysts predict that Colliers International Group will post 6.2 earnings per share for the current year.

Institutional Trading of Colliers International Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FIL Ltd lifted its position in Colliers International Group by 116.5% in the fourth quarter. FIL Ltd now owns 1,547,527 shares of the financial services provider’s stock valued at $210,449,000 after purchasing an additional 832,583 shares during the period. Norges Bank purchased a new position in shares of Colliers International Group during the 4th quarter worth approximately $74,615,000. Janus Henderson Group PLC purchased a new stake in shares of Colliers International Group in the third quarter valued at approximately $69,920,000. Franklin Resources Inc. grew its holdings in Colliers International Group by 100.8% during the third quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after acquiring an additional 340,691 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Colliers International Group by 67.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 436,397 shares of the financial services provider’s stock worth $59,320,000 after acquiring an additional 176,232 shares in the last quarter. 80.09% of the stock is owned by hedge funds and other 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.