BidaskClub Upgrades Colliers International Group (CIGI) to Hold

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BidaskClub upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a sell rating to a hold rating in a research note published on Thursday, BidAskClub reports.

A number of other research firms also recently issued reports on CIGI. Raymond James set a $85.00 price target on shares of Colliers International Group and gave the company an outperform rating in a research report on Monday, April 29th. ValuEngine downgraded shares of Colliers International Group from a buy rating to a hold rating in a research report on Saturday, March 9th. Zacks Investment Research upgraded shares of Colliers International Group from a hold rating to a strong-buy rating and set a $79.00 price target for the company in a research report on Wednesday, February 20th. Royal Bank of Canada reduced their price target on shares of Colliers International Group from $87.00 to $83.00 and set an outperform rating for the company in a research report on Tuesday, April 30th. Finally, JMP Securities upgraded shares of Colliers International Group from a market perform rating to an outperform rating and set a $63.66 price target for the company in a research report on Monday, February 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $77.67.

Shares of NASDAQ:CIGI opened at $61.56 on Thursday. The company has a debt-to-equity ratio of 2.59, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $2.35 billion, a P/E ratio of 25.87 and a beta of 1.49. Colliers International Group has a 52 week low of $52.01 and a 52 week high of $84.20.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.23). Colliers International Group had a net margin of 3.24% and a return on equity of 25.61%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $628.75 million. During the same quarter in the previous year, the business earned $0.45 EPS. Colliers International Group’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that Colliers International Group will post 3.11 earnings per share for the current fiscal year.

The business also recently declared a semiannual dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Friday, June 28th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 27th. This represents a dividend yield of 0.16%. Colliers International Group’s payout ratio is 4.08%.

Several hedge funds have recently bought and sold shares of the company. Advisor Group Inc. purchased a new position in shares of Colliers International Group during the 4th quarter worth approximately $41,000. Vanguard Group Inc. increased its stake in shares of Colliers International Group by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 944,967 shares of the financial services provider’s stock worth $73,282,000 after purchasing an additional 38,283 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its stake in shares of Colliers International Group by 15.1% during the 4th quarter. Gluskin Sheff & Assoc Inc. now owns 70,839 shares of the financial services provider’s stock worth $3,907,000 after purchasing an additional 9,295 shares in the last quarter. Seizert Capital Partners LLC increased its stake in shares of Colliers International Group by 114.2% during the 4th quarter. Seizert Capital Partners LLC now owns 43,096 shares of the financial services provider’s stock worth $2,372,000 after purchasing an additional 22,976 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of Colliers International Group by 30.1% during the 4th quarter. Mackenzie Financial Corp now owns 330,091 shares of the financial services provider’s stock worth $18,165,000 after purchasing an additional 76,447 shares in the last quarter. Institutional investors own 68.33% 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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