Colliers International Group (NASDAQ:CIGI) Issues 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.

Wall Street Analyst Weigh In

CIGI has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Scotiabank lifted their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research report on Wednesday. Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their target price for the company from $150.00 to $160.00 in a report on Friday, August 2nd. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Stifel Nicolaus upped their price objective on Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Colliers International Group Stock Performance

Shares of CIGI traded up $3.89 during mid-day trading on Thursday, hitting $151.22. The stock had a trading volume of 113,694 shares, compared to its average volume of 114,751. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $7.43 billion, a P/E ratio of 51.44 and a beta of 1.50. Colliers International Group has a 52 week low of $94.85 and a 52 week high of $156.96. The business has a fifty day moving average price of $148.38 and a 200-day moving average price of $129.97.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). 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 for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the company earned $1.10 earnings per share. Colliers International Group’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Colliers International Group will post 5.63 EPS 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.