Colliers International Group (NASDAQ:CIGI) Given a $85.00 Price Target at Raymond James

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) has been given a $85.00 price objective by Raymond James in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ target price would indicate a potential upside of 17.34% from the stock’s current price.

A number of other brokerages have also recently issued reports on CIGI. BMO Capital Markets set a $81.00 price objective on Colliers International Group and gave the company 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. Zacks Investment Research lowered Colliers International Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 5th. Finally, BidaskClub raised Colliers International Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Colliers International Group presently has a consensus rating of “Buy” and an average price target of $78.33.

Colliers International Group stock traded up $1.51 during midday trading on Friday, reaching $72.44. The stock had a trading volume of 7,122 shares, compared to its average volume of 45,992. Colliers International Group has a 12 month low of $52.01 and a 12 month high of $80.35. The firm’s 50-day moving average price is $68.73 and its 200 day moving average price is $67.83. The firm has a market capitalization of $2.69 billion, a PE ratio of 29.57 and a beta of 1.59. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.17.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, missing the Zacks’ 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 the consensus estimate of $750.85 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. Equities research analysts expect that Colliers International Group will post 2.88 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in shares of Colliers International Group by 28.5% during the second quarter. Toronto Dominion Bank now owns 25,742 shares of the financial services provider’s stock worth $1,865,000 after purchasing an additional 5,702 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Colliers International Group by 69.9% during the second quarter. Mackenzie Financial Corp now owns 200,658 shares of the financial services provider’s stock worth $14,371,000 after purchasing an additional 82,578 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Colliers International Group by 159.6% during the second quarter. Royal Bank of Canada now owns 2,042,757 shares of the financial services provider’s stock worth $146,312,000 after purchasing an additional 1,255,999 shares in the last quarter. Lincluden Management Ltd. grew its holdings in shares of Colliers International Group by 14.0% during the second quarter. Lincluden Management Ltd. now owns 24,225 shares of the financial services provider’s stock worth $2,268,000 after purchasing an additional 2,980 shares in the last quarter. Finally, Argent Capital Management LLC purchased a new position in shares of Colliers International Group during the second quarter worth about $830,000. 71.52% of the stock is owned by institutional investors.

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.

Featured Article: How does a dividend reinvestment plan work?

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

Receive News & Ratings for Colliers International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colliers International Group and related companies with MarketBeat.com's FREE daily email newsletter.