Scotiabank Cuts Colliers International Group (NASDAQ:CIGI) Price Target to $170.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target trimmed by Scotiabank from $172.50 to $170.00 in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on CIGI. Raymond James lifted their price target on Colliers International Group from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group initiated coverage on shares of Colliers International Group in a report on Friday, December 6th. They set a “neutral” rating and a $170.00 target price on the stock. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Royal Bank of Canada lifted their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Colliers International Group presently has an average rating of “Moderate Buy” and an average price target of $164.63.

Colliers International Group Trading Up 1.7 %

NASDAQ CIGI opened at $143.19 on Tuesday. The stock has a market cap of $7.22 billion, a P/E ratio of 45.60 and a beta of 1.49. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The company has a fifty day simple moving average of $141.62 and a two-hundred day simple moving average of $143.01. Colliers International Group has a 12-month low of $101.01 and a 12-month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts forecast that Colliers International Group will post 5.41 earnings per share for the current year.

Colliers International Group Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st were paid a dividend of $0.15 per share. This represents a yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group’s payout ratio is 9.55%.

Hedge Funds Weigh In On Colliers International Group

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Colliers International Group by 26.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock valued at $90,000 after buying an additional 124 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of Colliers International Group during the third quarter worth about $112,000. Tobam increased its position in shares of Colliers International Group by 12.0% during the fourth quarter. Tobam now owns 913 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 98 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Colliers International Group by 197.8% in the 3rd quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 619 shares during the last quarter. Finally, Stonegate Investment Group LLC purchased a new position in Colliers International Group during the 3rd quarter worth approximately $264,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

About Colliers International Group

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.