Colliers International Group (CIGI) Upgraded to Strong-Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday. The brokerage currently has $79.00 price target on the financial services provider’s stock.

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 “

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Other research analysts also recently issued reports about the company. Raymond James set a $85.00 price target on Colliers International Group and gave the stock a buy rating in a research note on Wednesday, October 31st. ValuEngine downgraded Colliers International Group from a buy rating to a hold rating in a research note on Tuesday, December 11th. William Blair restated an outperform rating on shares of Colliers International Group in a research note on Wednesday, February 13th. BidaskClub upgraded Colliers International Group from a sell rating to a hold rating in a research note on Tuesday, January 29th. Finally, JMP Securities upgraded Colliers International Group from a market perform rating to an outperform rating and set a $63.66 price target for the company in a research note on Monday, February 4th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Colliers International Group currently has an average rating of Buy and a consensus price target of $78.67.

CIGI stock opened at $69.55 on Wednesday. Colliers International Group has a 1-year low of $52.01 and a 1-year high of $84.20. The company has a quick ratio of 1.06, a current ratio of 0.95 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 28.39 and a beta of 1.58.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $1.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.12. Colliers International Group had a return on equity of 28.18% and a net margin of 3.46%. The business had revenue of $889.88 million during the quarter, compared to the consensus estimate of $866.25 million. During the same period in the prior year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Colliers International Group will post 3.27 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of CIGI. Bank of America Corp DE boosted its position in shares of Colliers International Group by 2.4% during the 2nd quarter. Bank of America Corp DE now owns 54,702 shares of the financial services provider’s stock valued at $4,141,000 after acquiring an additional 1,282 shares during the last quarter. Northern Trust Corp boosted its position in shares of Colliers International Group by 12.3% during the 2nd quarter. Northern Trust Corp now owns 14,598 shares of the financial services provider’s stock valued at $1,105,000 after acquiring an additional 1,603 shares during the last quarter. Waratah Capital Advisors Ltd. boosted its position in shares of Colliers International Group by 2.6% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 261,162 shares of the financial services provider’s stock valued at $20,185,000 after acquiring an additional 6,685 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Colliers International Group by 94.1% during the 3rd quarter. Wells Fargo & Company MN now owns 3,165 shares of the financial services provider’s stock valued at $245,000 after acquiring an additional 1,534 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Colliers International Group by 0.7% during the 3rd quarter. American Century Companies Inc. now owns 169,812 shares of the financial services provider’s stock valued at $13,153,000 after acquiring an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Colliers International Group Company Profile

Colliers International Group Inc provides commercial real estate services to corporations, financial institutions, governments, and individuals worldwide. The company's Sales and Lease Brokerage division offers transaction brokerage services, including landlord representation, tenant representation, and capital markets and investment services, as well as property management, leasing, and valuations.

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