Zacks Investment Research Downgrades Colliers International Group (CIGI) to Hold

Zacks Investment Research downgraded shares of Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) from a strong-buy rating to a hold rating in a research note published on Tuesday morning.

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 analysts have also recently weighed in on the company. BidaskClub raised Colliers International Group from a hold rating to a buy rating in a research report on Friday, December 29th. ValuEngine cut Colliers International Group from a buy rating to a hold rating in a research report on Monday, November 6th. Royal Bank of Canada reissued a buy rating and issued a $66.00 price objective on shares of Colliers International Group in a research report on Thursday, November 2nd. Scotiabank boosted their price objective on Colliers International Group from $75.50 to $83.00 and gave the stock an outperform rating in a research report on Wednesday, November 1st. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $65.00 price target on shares of Colliers International Group in a research report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $71.40.

Colliers International Group (CIGI) opened at $60.90 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.99 and a quick ratio of 0.99. Colliers International Group has a 1 year low of $34.70 and a 1 year high of $62.25. The firm has a market capitalization of $2,340.40, a price-to-earnings ratio of 25.40 and a beta of 1.80.

The business also recently disclosed a semiannual dividend, which will be paid on Wednesday, January 10th. Investors of record on Friday, December 29th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a dividend yield of 0.17%. Colliers International Group’s payout ratio is 6.54%.

Large investors have recently added to or reduced their stakes in the stock. State of Tennessee Treasury Department bought a new stake in shares of Colliers International Group during the 2nd quarter valued at $201,000. FMR LLC bought a new stake in shares of Colliers International Group during the 2nd quarter valued at $208,000. Legal & General Group Plc raised its stake in shares of Colliers International Group by 4.5% during the 2nd quarter. Legal & General Group Plc now owns 4,587 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 198 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Colliers International Group during the 3rd quarter valued at $326,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Colliers International Group during the 3rd quarter valued at $363,000. Institutional investors own 63.11% of the company’s stock.

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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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