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

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

Colliers International Group Stock Performance

NASDAQ CIGI opened at $151.22 on Friday. 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 company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 51.44 and a beta of 1.50. The stock has a fifty day simple moving average of $148.38 and a 200 day simple moving average of $129.97. Colliers International Group has a twelve month low of $94.85 and a twelve month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the company earned $1.10 EPS. Colliers International Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Colliers International Group will post 5.63 EPS for the current year.

Analyst Ratings Changes

CIGI has been the subject of several research analyst reports. Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $150.00 to $160.00 in a research note on Friday, August 2nd. Scotiabank raised their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a report on Wednesday. Stifel Nicolaus raised their price objective 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. National Bankshares raised their price objective on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada raised their price target on shares of Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.