National Bank Financial Upgrades Colliers International Group (NASDAQ:CIGI) to Strong-Buy

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by equities researchers at National Bank Financial from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Other analysts have also recently issued reports about the stock. Stifel Nicolaus raised their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. National Bankshares upped their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price target on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. BMO Capital Markets increased their price objective on 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 lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their price objective for the company from $150.00 to $160.00 in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Colliers International Group Trading Down 1.1 %

Shares of NASDAQ CIGI opened at $147.33 on Tuesday. The business has a fifty day simple moving average of $148.21 and a 200-day simple moving average of $129.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 50.11 and a beta of 1.50. Colliers International Group has a 12 month low of $94.85 and a 12 month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Sell-side analysts predict that Colliers International Group will post 5.63 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its holdings in 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 period. Clearbridge Investments LLC lifted its position 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 worth $34,677,000 after acquiring an additional 148,265 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of Colliers International Group during the 2nd quarter worth approximately $6,970,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Colliers International Group during the first quarter valued at approximately $7,092,000. Finally, Victory Capital Management Inc. lifted its position in Colliers International Group by 5.9% in the second 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 period. 80.09% of the stock is owned by 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.