William Blair Weighs in on Colliers International Group Inc.’s Q3 2024 Earnings (NASDAQ:CIGI)

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Research analysts at William Blair cut their Q3 2024 EPS estimates for Colliers International Group in a research note issued on Monday, October 14th. William Blair analyst S. Sheldon now anticipates that the financial services provider will post earnings of $1.28 per share for the quarter, down from their previous forecast of $1.43. The consensus estimate for Colliers International Group’s current full-year earnings is $5.66 per share. William Blair also issued estimates for Colliers International Group’s Q4 2024 earnings at $2.48 EPS.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.11 billion. Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 earnings per share.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets boosted their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. StockNews.com cut shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. National Bankshares boosted 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 research note on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $160.00 price objective on shares of Colliers International Group in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Colliers International Group Stock Performance

NASDAQ CIGI opened at $149.75 on Tuesday. The firm’s fifty day moving average price is $143.82 and its two-hundred day moving average price is $125.55. The stock has a market cap of $7.32 billion, a PE ratio of 73.05 and a beta of 1.49. Colliers International Group has a fifty-two week low of $83.38 and a fifty-two week high of $154.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03.

Institutional Trading of Colliers International Group

A number of institutional investors have recently bought and sold shares of CIGI. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Colliers International Group by 575.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 207 shares during the period. Blue Trust Inc. raised its holdings in shares of Colliers International Group by 3,377.8% during the second quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 304 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Colliers International Group by 252.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 316 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Colliers International Group during the first quarter valued at about $118,000. Finally, Tobam raised its holdings in shares of Colliers International Group by 185.5% during the first quarter. Tobam now owns 1,302 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 846 shares during the period. Institutional investors own 80.09% of the company’s stock.

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.