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 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.

Colliers International Group Trading Down 1.1 %

CIGI traded down $1.63 during trading on Wednesday, hitting $147.39. 184,055 shares of the company’s stock were exchanged, compared to its average volume of 114,352. Colliers International Group has a 1 year low of $94.85 and a 1 year high of $156.96. The stock has a 50 day moving average price of $148.12 and a 200 day moving average price of $129.70. The firm has a market cap of $7.24 billion, a P/E ratio of 48.43 and a beta of 1.50. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CIGI. Raymond James downgraded shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. StockNews.com downgraded shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. 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 report on Friday, August 2nd. National Bankshares lifted their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets lifted their target price on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average 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.