Colliers International Group (NASDAQ:CIGI) Price Target Cut to $170.00 by Analysts at Scotiabank

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) had its price target reduced by Scotiabank from $172.50 to $170.00 in a report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the financial services provider’s stock.

Several other equities research analysts have also recently commented on CIGI. Raymond James boosted their price objective on shares of Colliers International Group from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada boosted their price objective on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of Colliers International Group in a research report on Monday, December 16th. They issued a “neutral” rating and a $167.00 price objective on the stock. Finally, National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Colliers International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Colliers International Group Trading Down 0.4 %

Shares of NASDAQ CIGI opened at $143.70 on Tuesday. The company’s fifty day moving average is $141.66 and its 200-day moving average is $143.02. The stock has a market cap of $7.25 billion, a price-to-earnings ratio of 45.76 and a beta of 1.49. Colliers International Group has a twelve month low of $101.01 and a twelve month high of $156.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.42.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.10 earnings per share. Equities research analysts predict that Colliers International Group will post 5.41 EPS for the current year.

Colliers International Group Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s dividend payout ratio is presently 9.55%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Colliers International Group by 100.8% during the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after purchasing an additional 340,691 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Colliers International Group during the 3rd quarter worth about $69,920,000. Loomis Sayles & Co. L P increased its stake in shares of Colliers International Group by 55.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 358,748 shares of the financial services provider’s stock worth $54,461,000 after purchasing an additional 128,005 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Colliers International Group by 91.3% during the 2nd quarter. Clearbridge Investments LLC now owns 310,602 shares of the financial services provider’s stock worth $34,677,000 after purchasing an additional 148,265 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Colliers International Group by 4.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 309,260 shares of the financial services provider’s stock valued at $34,527,000 after buying an additional 13,678 shares during the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

About Colliers International Group

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.