Colliers International Group (NASDAQ:CIGI) Upgraded to “Strong-Buy” by BidaskClub

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Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday, September 18th, BidAskClub reports.

Several other equities research analysts have also recently commented on the company. Raymond James set a $85.00 price target on Colliers International Group and gave the company an “outperform” rating in a report on Wednesday, July 31st. BMO Capital Markets set a $81.00 target price on Colliers International Group and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine cut Colliers International Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, Zacks Investment Research cut Colliers International Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Colliers International Group currently has a consensus rating of “Buy” and a consensus target price of $78.33.

CIGI stock traded up $1.68 during mid-day trading on Wednesday, reaching $73.43. 49,685 shares of the company’s stock were exchanged, compared to its average volume of 48,001. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 29.97 and a beta of 1.59. The stock’s 50 day moving average is $69.90 and its 200 day moving average is $68.57. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.88 and a quick ratio of 0.88. Colliers International Group has a 12-month low of $52.01 and a 12-month high of $77.79.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.60 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.23). Colliers International Group had a net margin of 3.15% and a return on equity of 23.99%. The firm had revenue of $745.50 million during the quarter, compared to analysts’ expectations of $750.85 million. During the same quarter last year, the business earned $0.95 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Colliers International Group will post 2.88 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale purchased a new position in Colliers International Group in the second quarter valued at $39,000. JPMorgan Chase & Co. purchased a new stake in Colliers International Group during the 2nd quarter worth about $134,000. Cidel Asset Management Inc. purchased a new stake in Colliers International Group during the 2nd quarter worth about $208,000. Wetherby Asset Management Inc. purchased a new stake in Colliers International Group during the 1st quarter worth about $223,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Colliers International Group during the 1st quarter worth about $322,000. Hedge funds and other institutional investors own 71.52% 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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Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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