Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

A number of other analysts have also recently commented on the stock. Sidoti upgraded shares of Colliers International Group from a “neutral” rating to a “buy” rating in a report on Monday, August 14th. BidaskClub cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Royal Bank Of Canada restated an “outperform” rating and set a $62.00 target price (up previously from $58.00) on shares of Colliers International Group in a report on Tuesday, August 8th. Zacks Investment Research cut shares of Colliers International Group from a “hold” rating to a “strong sell” rating in a report on Monday, August 7th. Finally, Scotiabank dropped their target price on shares of Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.70.

Colliers International Group (NASDAQ CIGI) traded down 0.19% during midday trading on Friday, hitting $51.90. 44,082 shares of the stock were exchanged. Colliers International Group has a 1-year low of $34.20 and a 1-year high of $60.75. The stock has a market cap of $2.02 billion, a PE ratio of 31.36 and a beta of 1.73. The company’s 50 day moving average is $52.29 and its 200-day moving average is $51.21.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.16. The business had revenue of $544.20 million for the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, analysts expect that Colliers International Group will post $2.87 earnings per share for the current year.

Colliers International Group declared that its board has initiated a stock repurchase program on Thursday, July 13th that authorizes the company to repurchase 2,700,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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Several institutional investors have recently bought and sold shares of CIGI. Scotia Capital Inc. raised its position in Colliers International Group by 46.4% in the second quarter. Scotia Capital Inc. now owns 7,073 shares of the financial services provider’s stock valued at $398,000 after buying an additional 2,242 shares in the last quarter. Bank of Nova Scotia raised its position in Colliers International Group by 95.4% in the second quarter. Bank of Nova Scotia now owns 10,110 shares of the financial services provider’s stock valued at $571,000 after buying an additional 4,937 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Colliers International Group by 32.9% in the second quarter. Goldman Sachs Group Inc. now owns 60,298 shares of the financial services provider’s stock valued at $3,405,000 after buying an additional 14,937 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in Colliers International Group by 19.6% in the second quarter. Hillsdale Investment Management Inc. now owns 368,450 shares of the financial services provider’s stock valued at $20,833,000 after buying an additional 60,500 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Colliers International Group by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 75,680 shares of the financial services provider’s stock valued at $4,272,000 after buying an additional 2,429 shares in the last quarter. 63.51% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group Company Profile

Colliers International Group Inc is engaged in the provision of commercial real estate services. The Company offers services, including outsourcing and advisory services, lease brokerage and sales brokerage. Its segments include Americas; Europe, Middle East and Africa (EMEA); Asia Pacific, and Corporate.

Analyst Recommendations for Colliers International Group (NASDAQ:CIGI)

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