Zacks Investment Research Upgrades Colliers International Group Inc. (CIGI) to “Hold”
Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “FIRSTSERVICE CP is a leader in the rapidly growing service sector providing property and business services to commercial and residential customers in the following areas: residential property management; integrated security systems; consumer services; and, customer support and fulfillment and business process outsourcing. FirstService’s operations are divided into two divisions: Property Services and Business Services “
Several other research firms have also issued reports on CIGI. BMO Capital Markets raised their price target on Colliers International Group from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $58.00) on shares of Colliers International Group in a report on Wednesday, August 2nd. BidaskClub downgraded Colliers International Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. ValuEngine raised Colliers International Group from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Sidoti raised Colliers International Group from a “neutral” rating to a “buy” rating in a research note on Monday, August 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.70.
Shares of Colliers International Group (NASDAQ CIGI) traded up 1.21% on Tuesday, hitting $50.30. 32,237 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $49.95 and its 200 day moving average price is $51.55. Colliers International Group has a 1-year low of $34.20 and a 1-year high of $60.75. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 30.39 and a beta of 1.74.
Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, August 1st. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.16. The firm had revenue of $544.20 million during the quarter, compared to analyst estimates of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. On average, equities research analysts expect that Colliers International Group will post $2.87 earnings per share for the current year.
Colliers International Group announced that its Board of Directors has approved a stock buyback program on Thursday, July 13th that allows the company to buyback 2,700,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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A number of institutional investors have recently modified their holdings of the stock. Blair William & Co. IL lifted its holdings in Colliers International Group by 0.3% during the second quarter. Blair William & Co. IL now owns 17,547 shares of the financial services provider’s stock worth $991,000 after acquiring an additional 45 shares in the last quarter. Legal & General Group Plc grew its stake in Colliers International Group by 4.5% in the second quarter. Legal & General Group Plc now owns 4,587 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 198 shares during the period. Parametric Portfolio Associates LLC grew its stake in Colliers International Group by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 10,518 shares of the financial services provider’s stock valued at $594,000 after acquiring an additional 456 shares during the period. UBS Group AG grew its stake in Colliers International Group by 15.0% in the first quarter. UBS Group AG now owns 4,945 shares of the financial services provider’s stock valued at $234,000 after acquiring an additional 645 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Colliers International Group by 0.6% in the second quarter. Wells Fargo & Company MN now owns 187,289 shares of the financial services provider’s stock valued at $10,573,000 after acquiring an additional 1,130 shares during the period. 63.51% of the stock is currently owned by institutional investors and hedge funds.
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.
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