Royal Bank of Canada Increases Colliers International Group (NASDAQ:CIGI) Price Target to $160.00

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target increased by Royal Bank of Canada from $145.00 to $160.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 17.46% from the stock’s previous close.

Several other brokerages also recently weighed in on CIGI. Scotiabank upped their target price on shares of Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research note on Friday. BMO Capital Markets upped their target price on shares of Colliers International Group from $140.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Raymond James cut shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $160.00 in a report on Friday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average target price of $155.83.

Colliers International Group Price Performance

Shares of CIGI opened at $136.22 on Friday. Colliers International Group has a fifty-two week low of $83.38 and a fifty-two week high of $140.52. The firm’s 50 day moving average price is $117.95 and its 200 day moving average price is $116.90. The company has a market cap of $6.67 billion, a P/E ratio of 66.45 and a beta of 1.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.15.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.20). Colliers International Group had a return on equity of 25.35% and a net margin of 3.20%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.03 million. On average, research analysts forecast that Colliers International Group will post 5.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CIGI. Norges Bank acquired a new position in shares of Colliers International Group in the 4th quarter valued at $47,753,000. The Manufacturers Life Insurance Company boosted its stake in Colliers International Group by 48.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 697,809 shares of the financial services provider’s stock worth $88,405,000 after purchasing an additional 228,824 shares during the period. Clearbridge Investments LLC acquired a new stake in Colliers International Group during the 4th quarter worth $28,421,000. Mackenzie Financial Corp boosted its stake in Colliers International Group by 33.6% during the 4th quarter. Mackenzie Financial Corp now owns 725,052 shares of the financial services provider’s stock worth $91,754,000 after purchasing an additional 182,167 shares during the period. Finally, AGF Management Ltd. boosted its stake in Colliers International Group by 126.5% during the 4th quarter. AGF Management Ltd. now owns 122,633 shares of the financial services provider’s stock worth $15,511,000 after purchasing an additional 68,479 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.