Research Analysts Set Expectations for CIGI FY2024 Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Research analysts at Scotiabank reduced their FY2024 EPS estimates for Colliers International Group in a report issued on Wednesday, January 8th. Scotiabank analyst H. Gupta now anticipates that the financial services provider will earn $5.40 per share for the year, down from their prior estimate of $5.58. Scotiabank currently has a “Sector Outperform” rating and a $167.50 target price on the stock. The consensus estimate for Colliers International Group’s current full-year earnings is $5.44 per share. Scotiabank also issued estimates for Colliers International Group’s FY2025 earnings at $6.49 EPS.

Other research analysts have also issued reports about the company. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group assumed coverage on Colliers International Group in a research report on Friday, December 6th. They set a “neutral” rating and a $170.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Colliers International Group in a report on Monday, December 16th. They issued a “neutral” rating and a $167.00 target price on the stock. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada boosted their price target on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.44.

Colliers International Group Price Performance

CIGI stock opened at $134.81 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. Colliers International Group has a 52-week low of $101.01 and a 52-week high of $156.96. The company has a market capitalization of $6.80 billion, a P/E ratio of 42.93 and a beta of 1.49. The company has a fifty day moving average price of $144.95 and a 200-day moving average price of $140.43.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last issued 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). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.10 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis.

Institutional Trading of Colliers International Group

Several large investors have recently made changes to their positions in CIGI. William Blair Investment Management LLC grew its position in Colliers International Group by 8.3% in the 2nd quarter. William Blair Investment Management LLC now owns 125,302 shares of the financial services provider’s stock valued at $13,990,000 after purchasing an additional 9,603 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Colliers International Group by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 309,260 shares of the financial services provider’s stock valued at $34,527,000 after buying an additional 13,678 shares during the last quarter. Bristol Gate Capital Partners Inc. increased its position in shares of Colliers International Group by 33.6% during the second quarter. Bristol Gate Capital Partners Inc. now owns 8,848 shares of the financial services provider’s stock worth $988,000 after acquiring an additional 2,225 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Colliers International Group by 67.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 49,715 shares of the financial services provider’s stock worth $5,550,000 after acquiring an additional 20,000 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its position in Colliers International Group by 7.2% in the 2nd quarter. King Luther Capital Management Corp now owns 14,461 shares of the financial services provider’s stock valued at $1,615,000 after acquiring an additional 976 shares in the last quarter. 80.09% of the stock is currently owned by institutional investors and hedge funds.

Colliers International Group Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a yield of 0.2%. The ex-dividend date is Tuesday, December 31st. Colliers International Group’s dividend payout ratio is presently 9.55%.

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.