Colliers International Group (CIGI) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a hold rating to a strong-buy rating in a research note released on Monday. They currently have $78.00 price target on the financial services provider’s stock.

According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “

CIGI has been the subject of a number of other reports. ValuEngine downgraded Colliers International Group from a strong-buy rating to a buy rating in a report on Tuesday, October 2nd. BidaskClub downgraded Colliers International Group from a buy rating to a hold rating in a report on Thursday, September 6th. Royal Bank of Canada lifted their price target on Colliers International Group from $85.00 to $89.00 and gave the stock an outperform rating in a report on Wednesday, August 1st. Finally, Raymond James set a $85.00 target price on Colliers International Group and gave the stock a buy rating in a research report on Wednesday, October 31st. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $83.33.

NASDAQ CIGI traded down $0.99 during trading on Monday, reaching $67.03. 5,385 shares of the company’s stock were exchanged, compared to its average volume of 52,812. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 22.20 and a beta of 1.49. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.06 and a quick ratio of 1.06. Colliers International Group has a 1 year low of $46.60 and a 1 year high of $84.20.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.60. The company had revenue of $715.70 million during the quarter, compared to the consensus estimate of $698.53 million. Colliers International Group had a return on equity of 31.08% and a net margin of 2.96%. Colliers International Group’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 EPS. As a group, equities research analysts expect that Colliers International Group will post 2.5 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of CIGI. Seizert Capital Partners LLC acquired a new position in Colliers International Group in the 3rd quarter valued at about $1,560,000. Hillsdale Investment Management Inc. increased its position in Colliers International Group by 6.1% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 213,123 shares of the financial services provider’s stock valued at $16,512,000 after acquiring an additional 12,200 shares during the period. EAM Global Investors LLC increased its position in Colliers International Group by 112.6% in the 3rd quarter. EAM Global Investors LLC now owns 33,929 shares of the financial services provider’s stock valued at $2,626,000 after acquiring an additional 17,971 shares during the period. AXA acquired a new position in Colliers International Group in the 3rd quarter valued at about $1,419,000. Finally, Alliancebernstein L.P. acquired a new position in Colliers International Group in the 3rd quarter valued at about $3,104,000. Institutional investors and hedge funds own 70.21% of the company’s stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.

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