Colliers International Group (NASDAQ:CIGI) Announces Quarterly Earnings Results

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) posted its quarterly earnings data on Tuesday. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17), Briefing.com reports. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. Colliers International Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. Colliers International Group updated its FY 2024 guidance to 5.670-5.990 EPS.

Colliers International Group Stock Up 2.6 %

Shares of NASDAQ CIGI traded up $3.89 during trading hours on Thursday, hitting $151.22. The stock had a trading volume of 113,694 shares, compared to its average volume of 114,751. The company has a market capitalization of $7.43 billion, a P/E ratio of 50.11 and a beta of 1.50. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day moving average price is $148.21 and its two-hundred day moving average price is $129.82. Colliers International Group has a 52 week low of $94.85 and a 52 week high of $156.96.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CIGI shares. Scotiabank upped their price target on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. National Bank Financial raised Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday. BMO Capital Markets increased their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Finally, Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $160.00 in a research report on Friday, August 2nd. Two equities research 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, the stock has an average rating of “Moderate Buy” and a consensus 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.