Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.940-6.470 for the period, compared to the consensus estimate of 8.320. The company issued revenue guidance of $4.7 billion-$4.9 billion, compared to the consensus revenue estimate of $6.5 billion.
Colliers International Group Stock Performance
Shares of CIGI stock traded up $4.17 during mid-day trading on Thursday, hitting $138.84. The stock had a trading volume of 110,988 shares, compared to its average volume of 115,160. The firm has a market cap of $6.80 billion, a PE ratio of 68.43 and a beta of 1.50. The company’s 50-day simple moving average is $116.87 and its 200-day simple moving average is $116.56. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.18 and a quick ratio of 1.18. Colliers International Group has a fifty-two week low of $83.38 and a fifty-two week high of $140.52.
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Colliers International Group had a return on equity of 26.28% and a net margin of 2.25%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $989.03 million. Sell-side analysts anticipate that Colliers International Group will post 5.51 earnings per share for the current year.
Colliers International Group Announces Dividend
Analyst Ratings Changes
CIGI has been the topic of several research analyst reports. Royal Bank of Canada reissued an outperform rating and set a $145.00 price target on shares of Colliers International Group in a research note on Tuesday, June 4th. Scotiabank upped their target price on Colliers International Group from $135.00 to $150.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Raymond James increased their price objective on Colliers International Group from $145.00 to $150.00 and gave the company a strong-buy rating in a research note on Wednesday, June 5th. Finally, BMO Capital Markets boosted their target price on shares of Colliers International Group from $137.00 to $140.00 and gave the company an outperform rating in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $142.50.
View Our Latest Research Report on CIGI
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.
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