Colliers International Group (NASDAQ:CIGI) Issues Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) announced its earnings results on Tuesday. The financial services provider reported $1.32 earnings per share (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 for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the company earned $1.10 earnings per share. 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 Up 2.6 %

Shares of CIGI opened at $151.22 on Friday. The company has a market capitalization of $7.43 billion, a price-to-earnings 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 stock’s 50-day moving average price is $148.38 and its 200-day moving average price is $129.97. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13.

Wall Street Analyst Weigh In

A number of analysts recently commented on CIGI shares. National Bank Financial upgraded shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Scotiabank boosted their price objective on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a report on Wednesday. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. BMO Capital Markets boosted their price target on Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a research note on Friday, September 13th. Finally, National Bankshares raised their price objective on 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. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.42.

About Colliers International Group

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.