BidaskClub Upgrades Colliers International Group (NASDAQ:CIGI) to Strong-Buy

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

A number of other equities analysts also recently commented on CIGI. Royal Bank of Canada set a €145.00 ($168.60) target price on Aena SME and gave the company a “sell” rating in a research note on Tuesday, April 30th. Raymond James set a $19.00 target price on Patterson-UTI Energy and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $77.67.

NASDAQ:CIGI opened at $75.20 on Wednesday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 30.69 and a beta of 1.50. Colliers International Group has a one year low of $52.01 and a one year high of $84.20. The stock has a 50-day moving average price of $69.45. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 2.59.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.23). Colliers International Group had a return on equity of 25.61% and a net margin of 3.24%. The firm had revenue of $635.10 million during the quarter, compared to analyst estimates of $628.75 million. During the same quarter last year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts expect that Colliers International Group will post 3.11 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of CIGI. William Blair Investment Management LLC raised its holdings in shares of Colliers International Group by 0.5% during the first quarter. William Blair Investment Management LLC now owns 1,041,494 shares of the financial services provider’s stock valued at $69,530,000 after buying an additional 5,633 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Colliers International Group by 3.7% during the first quarter. The Manufacturers Life Insurance Company now owns 814,629 shares of the financial services provider’s stock valued at $54,385,000 after buying an additional 29,042 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Colliers International Group by 15.6% during the first quarter. CIBC Asset Management Inc now owns 478,787 shares of the financial services provider’s stock valued at $31,983,000 after buying an additional 64,681 shares during the last quarter. Pembroke Management LTD raised its holdings in shares of Colliers International Group by 101.3% during the first quarter. Pembroke Management LTD now owns 465,200 shares of the financial services provider’s stock valued at $41,528,000 after buying an additional 234,050 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Colliers International Group during the fourth quarter valued at approximately $24,103,000. Institutional investors own 68.15% of the company’s stock.

About Colliers International Group

Colliers International Group Inc provides commercial real estate services to corporate and institutional clients in the Americas, Europe, the Middle East, Africa, Asia, Australasia, and internationally. The company offers sales brokerage services, which include purchases and sales, debt placement, equity capital raising, market value opinions, acquisition advisory, and transaction management services; and lease brokerage services comprising landlord and tenant representation services.

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