Colliers International Group (NASDAQ:CIGI) Price Target Lowered to $145.00 at Scotia

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price objective cut by Scotia from $150.00 to $145.00 in a report published on Friday,BayStreet.CA reports. They currently have a sector outperform rating on the financial services provider’s stock.

CIGI has been the subject of several other reports. Scotiabank reduced their target price on shares of Colliers International Group from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Friday. Weiss Ratings downgraded shares of Colliers International Group from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Colliers International Group from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 2nd. Raymond James Financial reduced their price objective on shares of Colliers International Group from $185.00 to $180.00 in a research note on Wednesday, April 29th. Finally, National Bank Financial decreased their price objective on shares of Colliers International Group from $143.00 to $109.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.56.

Colliers International Group Stock Performance

Shares of CIGI opened at $98.55 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.23. The business has a 50-day simple moving average of $96.62 and a two-hundred day simple moving average of $109.16. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 46.93 and a beta of 1.26. Colliers International Group has a 52 week low of $88.38 and a 52 week high of $171.51.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.79 by $0.04. Colliers International Group had a return on equity of 20.32% and a net margin of 1.81%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $1.72 earnings per share. The business’s revenue for the quarter was up 16.7% compared to the same quarter last year. On average, analysts expect that Colliers International Group will post 6.82 EPS for the current year.

Colliers International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 14th. Investors of record on Tuesday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.6%. Colliers International Group’s dividend payout ratio (DPR) is currently 14.29%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cooper Investors PTY Ltd. boosted its stake in Colliers International Group by 10.3% in the 2nd quarter. Cooper Investors PTY Ltd. now owns 34,610 shares of the financial services provider’s stock worth $3,246,000 after purchasing an additional 3,231 shares during the period. NewEdge Advisors LLC boosted its position in shares of Colliers International Group by 5.9% during the first quarter. NewEdge Advisors LLC now owns 2,248 shares of the financial services provider’s stock worth $240,000 after acquiring an additional 126 shares during the last quarter. Argent Capital Management LLC grew its stake in Colliers International Group by 51.6% during the first quarter. Argent Capital Management LLC now owns 64,980 shares of the financial services provider’s stock valued at $6,946,000 after acquiring an additional 22,118 shares in the last quarter. Turtle Creek Asset Management Inc. increased its holdings in Colliers International Group by 100.9% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 1,633,556 shares of the financial services provider’s stock valued at $174,611,000 after acquiring an additional 820,315 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Colliers International Group by 45.0% in the 1st quarter. Bank of America Corp DE now owns 75,657 shares of the financial services provider’s stock valued at $8,087,000 after acquiring an additional 23,473 shares during the last quarter. 80.09% of the stock is owned by hedge funds and other institutional investors.

Colliers International Group News Roundup

Here are the key news stories impacting Colliers International Group this week:

• Positive Sentiment: Colliers reported second-quarter adjusted earnings of $1.83 per share, ahead of the $1.79 consensus estimate and up from $1.72 a year earlier. Revenue increased 16.7% year over year to $1.38 billion. Colliers International Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: National Bank Financial raised its price target from $109 to $110 and reiterated an “outperform” rating, implying approximately 11.6% upside from the referenced share price. BayStreet.CA analyst ratings
• Neutral Sentiment: Scotiabank lowered its price target from $150 to $145 but maintained a “sector outperform” rating. The reduced target is a modest negative signal, although the rating still indicates expected relative strength and substantial potential upside. Benzinga analyst ratings
• Negative Sentiment: Quarterly revenue of $1.38 billion was below the $1.48 billion analyst estimate, a 6.8% shortfall despite strong year-over-year growth. The revenue miss may be weighing on the stock more than the modest EPS beat is supporting it. Colliers International Group earnings report

Colliers International Group Company Profile

Colliers International Group Inc is a global commercial real estate services and investment management firm offering a full suite of solutions to occupiers, owners and investors. The company’s real estate services encompass brokerage and agency leasing, capital markets advisory, property and facility management, valuation and advisory, project and development services, workplace and corporate real estate solutions, and market research. Through these offerings, Colliers supports clients across the entire real estate life cycle, from site selection to asset disposition.

The firm operates through two principal segments: real estate services and investment management.