Colliers International Group (NASDAQ:CIGI) Announces Earnings Results

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) released its quarterly earnings data 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. The business 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%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 earnings per share. Colliers International Group updated its FY 2024 guidance to 5.670-5.990 EPS.

Colliers International Group Stock Performance

NASDAQ:CIGI traded down $4.51 during midday trading on Wednesday, reaching $144.51. The stock had a trading volume of 141,763 shares, compared to its average volume of 114,156. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. The stock has a market cap of $7.10 billion, a P/E ratio of 48.43 and a beta of 1.50. The firm has a fifty day simple moving average of $148.12 and a two-hundred day simple moving average of $129.70. Colliers International Group has a 12-month low of $94.85 and a 12-month high of $156.96.

Wall Street Analyst Weigh In

Several brokerages have commented on CIGI. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their target price for the company from $150.00 to $160.00 in a report on Friday, August 2nd. National Bankshares raised their price target 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. Royal Bank of Canada boosted their price objective on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, BMO Capital Markets raised their target price on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.