Colliers International Group (NASDAQ:CIGI) Given New $166.00 Price Target at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective cut by Scotiabank from $170.00 to $166.00 in a research note published on Friday morning,Benzinga reports. They currently have a sector outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on CIGI. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. assumed coverage on 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. The Goldman Sachs Group assumed coverage on Colliers International Group in a report on Friday, December 6th. They set a “neutral” rating and a $170.00 price target on the stock. Raymond James upped their price objective on shares of Colliers International Group from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada raised their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.63.

Colliers International Group Stock Performance

CIGI stock opened at $135.28 on Friday. Colliers International Group has a 1 year low of $101.01 and a 1 year high of $156.96. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 42.41 and a beta of 1.49. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The stock’s fifty day moving average is $140.24 and its two-hundred day moving average is $143.62.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.87 earnings per share for the quarter, missing the consensus estimate of $2.40 by ($0.53). Colliers International Group had a net margin of 3.35% and a return on equity of 20.89%. On average, research analysts predict that Colliers International Group will post 6.58 EPS for the current year.

Colliers International Group Announces Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s dividend payout ratio (DPR) is 9.40%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its stake in shares of Colliers International Group by 100.8% during the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after acquiring an additional 340,691 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Colliers International Group by 3.4% during the fourth quarter. Alberta Investment Management Corp now owns 626,422 shares of the financial services provider’s stock worth $85,143,000 after purchasing an additional 20,794 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Colliers International Group during the third quarter valued at $69,920,000. Loomis Sayles & Co. L P boosted its position in shares of Colliers International Group by 55.5% in the 3rd quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock valued at $54,461,000 after purchasing an additional 128,005 shares during the period. Finally, Cibc World Market Inc. increased its stake in Colliers International Group by 3.9% in the 4th quarter. Cibc World Market Inc. now owns 219,317 shares of the financial services provider’s stock worth $29,814,000 after purchasing an additional 8,148 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.