Colliers International Group (NASDAQ:CIGI) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) released its earnings results 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 company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Colliers International Group updated its FY 2024 guidance to 5.670-5.990 EPS.

Colliers International Group Trading Down 2.2 %

Shares of CIGI stock traded down $3.22 during trading hours on Wednesday, reaching $145.80. 145,635 shares of the stock traded hands, compared to its average volume of 114,174. The business has a fifty day moving average price of $148.12 and a 200 day moving average price of $129.70. Colliers International Group has a 1-year low of $94.85 and a 1-year high of $156.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $7.16 billion, a PE ratio of 48.43 and a beta of 1.50.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CIGI. Royal Bank of Canada raised their price objective on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. BMO Capital Markets lifted their price target on Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, September 13th. Scotiabank upped their price objective on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Stifel Nicolaus boosted 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.