Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.940-6.470 for the period, compared to the consensus estimate of 8.320. The company issued revenue guidance of $4.7 billion-$4.9 billion, compared to the consensus revenue estimate of $6.5 billion.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CIGI. BMO Capital Markets raised their price target on Colliers International Group from $137.00 to $140.00 and gave the stock an outperform rating in a research note on Tuesday, June 4th. Scotiabank boosted their price target on Colliers International Group from $135.00 to $150.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Raymond James increased their price objective on shares of Colliers International Group from $145.00 to $150.00 and gave the stock a strong-buy rating in a research note on Wednesday, June 5th. Finally, Royal Bank of Canada restated an outperform rating and set a $145.00 target price on shares of Colliers International Group in a research report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $142.50.
Get Our Latest Stock Analysis on CIGI
Colliers International Group Stock Performance
Colliers International Group (NASDAQ:CIGI – Get Free Report) (TSE:CIGI) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $989.03 million. Colliers International Group had a return on equity of 26.28% and a net margin of 2.25%. On average, equities analysts expect that Colliers International Group will post 5.51 EPS for the current fiscal year.
Colliers International Group Dividend Announcement
The firm also recently declared a Semi-Annual dividend, which was paid on Friday, July 12th. Shareholders of record on Friday, June 28th were paid a $0.15 dividend. The ex-dividend date was Friday, June 28th. This represents a yield of 0.3%. Colliers International Group’s payout ratio is presently 14.63%.
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.
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