BidaskClub Downgrades Colliers International Group (NASDAQ:CIGI) to Hold

BidaskClub downgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a buy rating to a hold rating in a research report sent to investors on Friday, BidAskClub reports.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets cut their price objective on shares of Colliers International Group from $75.00 to $70.00 and set an outperform rating for the company in a report on Wednesday, April 29th. Raymond James set a $75.00 price objective on shares of Colliers International Group and gave the company an outperform rating in a report on Wednesday, April 29th. Zacks Investment Research downgraded shares of Colliers International Group from a buy rating to a sell rating in a report on Tuesday, April 14th. Royal Bank of Canada cut their price target on shares of Colliers International Group from $94.00 to $80.00 and set an outperform rating for the company in a report on Tuesday, May 5th. Finally, TheStreet downgraded shares of Colliers International Group from a b rating to a c+ rating in a report on Wednesday, March 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Colliers International Group has an average rating of Hold and a consensus target price of $81.75.

NASDAQ CIGI opened at $55.05 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $2.29 billion, a P/E ratio of 20.77 and a beta of 1.64. Colliers International Group has a 12-month low of $33.93 and a 12-month high of $92.07. The firm has a 50-day moving average price of $54.54 and a two-hundred day moving average price of $66.24.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.37. The firm had revenue of $630.60 million during the quarter, compared to the consensus estimate of $659.68 million. Colliers International Group had a net margin of 3.49% and a return on equity of 22.33%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. Equities analysts expect that Colliers International Group will post 1.16 EPS for the current year.

The company also recently declared a semi-annual dividend, which will be paid on Monday, July 13th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.05 per share. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 29th. Colliers International Group’s dividend payout ratio (DPR) is presently 3.89%.

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in Colliers International Group by 11.8% during the 1st quarter. Royal Bank of Canada now owns 2,224,533 shares of the financial services provider’s stock worth $106,802,000 after purchasing an additional 234,924 shares in the last quarter. State of Tennessee Treasury Department increased its position in Colliers International Group by 19.7% during the 1st quarter. State of Tennessee Treasury Department now owns 53,332 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 8,761 shares in the last quarter. Van Berkom & Associates Inc. increased its position in Colliers International Group by 7.6% during the 1st quarter. Van Berkom & Associates Inc. now owns 869,075 shares of the financial services provider’s stock worth $41,239,000 after purchasing an additional 61,495 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Colliers International Group by 59.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,449,271 shares of the financial services provider’s stock worth $68,776,000 after purchasing an additional 541,191 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Colliers International Group by 151.6% during the 1st quarter. APG Asset Management N.V. now owns 77,500 shares of the financial services provider’s stock worth $3,666,000 after purchasing an additional 46,700 shares in the last quarter. 70.64% of the stock is owned by institutional investors.

Colliers International Group Company Profile

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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