Somewhat Favorable News Coverage Somewhat Unlikely to Impact Colliers International Group (NASDAQ:CIGI) Stock Price

Headlines about Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) have trended somewhat positive on Saturday, Accern Sentiment reports. Accern identifies negative and positive press coverage by monitoring more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Colliers International Group earned a media sentiment score of 0.02 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 45.5792731275283 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

These are some of the headlines that may have impacted Accern’s rankings:

Several brokerages have weighed in on CIGI. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $75.00 target price (up from $59.00) on shares of Colliers International Group in a research note on Wednesday, August 2nd. Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 price target (up from $58.00) on shares of Colliers International Group in a research note on Tuesday, August 8th. BidaskClub upgraded Colliers International Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Zacks Investment Research downgraded Colliers International Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Finally, Scotiabank decreased their target price on Colliers International Group from $76.00 to $75.50 and set an “outperform” rating on the stock in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $65.70.

Shares of Colliers International Group (CIGI) opened at 49.20 on Friday. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 29.73 and a beta of 1.73. Colliers International Group has a 52 week low of $34.20 and a 52 week high of $60.75. The firm’s 50-day moving average price is $53.99 and its 200 day moving average price is $50.30.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.16. The firm had revenue of $544.20 million for the quarter, compared to analysts’ expectations of $515.45 million. Colliers International Group had a net margin of 3.23% and a return on equity of 49.70%. The business’s revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, analysts anticipate that Colliers International Group will post $2.87 EPS for the current year.

Colliers International Group announced that its board has initiated a stock buyback program on Thursday, July 13th that permits the company to buyback 2,700,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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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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