Raymond James Issues Positive Forecast for Colliers International Group (NASDAQ:CIGI) Stock Price

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its target price increased by Raymond James from $160.00 to $175.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages also recently commented on CIGI. JPMorgan Chase & Co. began coverage on Colliers International Group in a research report on Monday, December 16th. They issued a “neutral” rating and a $167.00 price objective for the company. Royal Bank of Canada upped their price objective 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. Scotiabank lowered their price objective on shares of Colliers International Group from $172.50 to $170.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 28th. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 5th. Finally, StockNews.com lowered 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Colliers International Group Stock Performance

Shares of CIGI opened at $142.35 on Thursday. The company has a 50-day moving average of $141.55 and a two-hundred day moving average of $143.23. The stock has a market cap of $7.02 billion, a P/E ratio of 45.33 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. 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 issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.17). The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, research analysts predict that Colliers International Group will post 5.41 EPS for the current fiscal year.

Colliers International Group Announces Dividend

The business also recently declared 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. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, December 31st. Colliers International Group’s payout ratio is currently 9.55%.

Institutional Trading of Colliers International Group

Several institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in shares of Colliers International Group by 91.3% in the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock valued at $34,677,000 after purchasing an additional 148,265 shares in the last quarter. Stonegate Investment Group LLC bought a new position in Colliers International Group during the 3rd quarter worth approximately $264,000. Dixon Mitchell Investment Counsel Inc. lifted its holdings in Colliers International Group by 7.2% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 86,011 shares of the financial services provider’s stock worth $13,068,000 after buying an additional 5,800 shares during the last quarter. Blue Trust Inc. grew its position 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 worth $141,000 after acquiring an additional 619 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Colliers International Group by 8.4% in the 3rd quarter. Whittier Trust Co. now owns 3,558 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 277 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

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.