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

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

Colliers International Group Stock Performance

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Scotiabank raised their target price on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday. BMO Capital Markets boosted their price target on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. StockNews.com downgraded 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 research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company 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.