Colliers International Group (NASDAQ:CIGI) Updates FY 2024 Earnings Guidance

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 5.670-5.990 for the period, compared to the consensus estimate of 6.080. The company issued revenue guidance of $4.7 billion-$4.9 billion, compared to the consensus revenue estimate of $4.7 billion.

Colliers International Group Price Performance

Shares of CIGI traded down $1.63 during mid-day trading on Wednesday, hitting $147.39. 184,055 shares of the company traded hands, compared to its average volume of 114,352. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average of $148.12 and a 200 day moving average of $129.70. Colliers International Group has a one year low of $94.85 and a one year high of $156.96. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 48.43 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its 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 23.60% and a net margin of 3.20%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. As a group, equities analysts expect that Colliers International Group will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CIGI shares. National Bankshares boosted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Royal Bank of Canada increased their target price on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. BMO Capital Markets increased their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Finally, Stifel Nicolaus increased their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.42.

Colliers International Group Company Profile

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.