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

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.670-5.990 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

Several research firms have commented on CIGI. National Bankshares increased their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. BMO Capital Markets increased their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Stifel Nicolaus increased their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Scotiabank raised their price target on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised 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 note on Monday, October 21st. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.42.

Colliers International Group Stock Up 2.6 %

CIGI stock opened at $151.22 on Friday. The firm has a 50 day moving average of $148.38 and a 200 day moving average of $129.97. The stock has a market capitalization of $7.43 billion, a PE ratio of 51.44 and a beta of 1.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. Colliers International Group has a 52 week low of $94.85 and a 52 week high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts forecast that Colliers International Group will post 5.63 earnings per share for the current year.

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.