Colliers International Group (NASDAQ:CIGI) Stock Rating Lowered by StockNews.com

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus raised their target price on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Scotiabank raised their target price on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their target price on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their target price for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. Finally, National Bankshares lifted their price target on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Colliers International Group has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Colliers International Group Stock Up 1.6 %

Shares of CIGI traded up $2.38 during midday trading on Tuesday, hitting $147.78. The company had a trading volume of 92,552 shares, compared to its average volume of 115,117. The company’s 50-day simple moving average is $142.75 and its 200-day simple moving average is $124.78. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $7.23 billion, a P/E ratio of 72.09 and a beta of 1.49. Colliers International Group has a 1 year low of $83.38 and a 1 year high of $154.11.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 3.20% and a return on equity of 23.60%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. As a group, sell-side analysts expect that Colliers International Group will post 5.66 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CIGI. The Manufacturers Life Insurance Company grew its stake in shares of Colliers International Group by 47.6% in the 2nd 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 purchasing an additional 326,453 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after purchasing an additional 148,265 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Colliers International Group by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 561,869 shares of the financial services provider’s stock valued at $71,212,000 after buying an additional 67,857 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Colliers International Group in the second quarter valued at approximately $6,970,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Colliers International Group in the first quarter valued at approximately $7,092,000. 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.