Colliers International Group Inc. (NASDAQ:CIGI – Get Free Report) (TSE:CIGI)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $149.04 and last traded at $148.83, with a volume of 97410 shares trading hands. The stock had previously closed at $145.05.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Scotiabank boosted their target price on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 2nd. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Stifel Nicolaus raised their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. BMO Capital Markets upped their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Finally, Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $160.00 in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average target price of $156.00.
Read Our Latest Research Report on Colliers International Group
Colliers International Group Price Performance
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.01). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. Colliers International Group’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. On average, analysts expect that Colliers International Group Inc. will post 5.51 earnings per share for the current year.
Hedge Funds Weigh In On Colliers International Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIGI. Vanguard Group Inc. increased its stake in Colliers International Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock worth $159,016,000 after purchasing an additional 5,152 shares during the period. The Manufacturers Life Insurance Company raised its stake in Colliers International Group by 47.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after buying an additional 326,453 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Colliers International Group by 5.9% in the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after purchasing an additional 41,225 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Colliers International Group by 48.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock worth $88,405,000 after buying an additional 228,824 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Colliers International Group by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock valued at $76,703,000 after purchasing an additional 6,178 shares during the last quarter. 80.09% of the stock is currently 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.
See Also
- Five stocks we like better than Colliers International Group
- The 3 Best Blue-Chip Stocks to Buy Now
- Take Advantage of Village Farms Stock as Cannabis Market Evolves
- High Flyers: 3 Natural Gas Stocks for March 2022
- MarketBeat Week in Review – 9/16 – 9/20
- Using the MarketBeat Stock Split Calculator
- Don’t Miss These 3 Retail Stocks for Fall Gains
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.