Scotiabank Has Lowered Expectations for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price decreased by research analysts at Scotiabank from $166.00 to $165.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective would indicate a potential upside of 37.67% from the stock’s previous close.

CIGI has been the subject of several other reports. Raymond James cut their price target on Colliers International Group from $175.00 to $170.00 and set an “outperform” rating for the company in a report on Friday, February 7th. CIBC initiated coverage on Colliers International Group in a research report on Tuesday, March 4th. They set a “sector outperform” rating and a $160.00 target price on the stock. Cibc World Mkts upgraded Colliers International Group to a “strong-buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada increased their price objective on shares of Colliers International Group from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 price target for the company. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.30.

Colliers International Group Price Performance

NASDAQ CIGI traded down $0.34 during mid-day trading on Monday, hitting $119.85. The stock had a trading volume of 21,851 shares, compared to its average volume of 113,258. The company has a 50 day simple moving average of $130.73 and a 200 day simple moving average of $140.51. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.13. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 37.57 and a beta of 1.58. Colliers International Group has a 52-week low of $101.01 and a 52-week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.87 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a return on equity of 20.38% and a net margin of 3.35%. Equities analysts forecast that Colliers International Group will post 6.2 EPS for the current fiscal year.

Institutional Trading of Colliers International Group

A number of hedge funds have recently made changes to their positions in CIGI. Tobam raised its holdings in Colliers International Group by 12.0% in the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock valued at $124,000 after acquiring an additional 98 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Colliers International Group by 16.0% in the fourth quarter. Plato Investment Management Ltd now owns 856 shares of the financial services provider’s stock valued at $117,000 after buying an additional 118 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Colliers International Group by 1.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 8,094 shares of the financial services provider’s stock worth $1,100,000 after acquiring an additional 144 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in Colliers International Group by 0.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 34,425 shares of the financial services provider’s stock worth $4,681,000 after purchasing an additional 151 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Colliers International Group by 2.5% during the fourth quarter. Alliancebernstein L.P. now owns 7,474 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 80.09% of the company’s stock.

Colliers International Group Company Profile

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.