Colliers International Group (NASDAQ:CIGI) Releases FY24 Earnings Guidance

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.89 to $6.42 for the period, compared to the consensus estimate of $6.06. The company issued revenue guidance of $4.55 billion to $4.77 billion, compared to the consensus revenue estimate of $4.59 billion.

Colliers International Group Stock Up 0.6 %

Shares of NASDAQ:CIGI opened at $104.68 on Thursday. Colliers International Group has a 1 year low of $83.38 and a 1 year high of $131.05. The company has a market cap of $5.12 billion, a PE ratio of 79.30 and a beta of 1.50. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $116.13 and its 200 day moving average is $112.26.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). Colliers International Group had a net margin of 1.51% and a return on equity of 32.94%. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Sell-side analysts anticipate that Colliers International Group will post 5.56 EPS for the current year.

Analysts Set New Price Targets

CIGI has been the topic of a number of research analyst reports. National Bankshares downgraded Colliers International Group from an outperform rating to a sector perform rating and set a $125.00 price target on the stock. in a report on Thursday, January 4th. Raymond James upped their target price on Colliers International Group from $140.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, February 9th. Stifel Nicolaus upped their target price on Colliers International Group from $130.00 to $145.00 and gave the stock a buy rating in a report on Friday, February 2nd. Scotiabank reduced their target price on Colliers International Group from $140.00 to $135.00 and set a sector outperform rating on the stock in a report on Wednesday, April 17th. Finally, BMO Capital Markets upped their target price on Colliers International Group from $129.00 to $137.00 and gave the stock an outperform rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Colliers International Group presently has a consensus rating of Moderate Buy and an average target price of $138.50.

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.