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

Colliers International Group (NASDAQ:CIGIGet Free Report) (TSE:CIGI) posted its quarterly earnings results on Tuesday. The financial services provider reported $1.32 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 during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. Colliers International Group updated its FY 2024 guidance to 5.670-5.990 EPS.

Colliers International Group Price Performance

CIGI stock traded down $4.51 during trading on Wednesday, hitting $144.51. The company had a trading volume of 141,763 shares, compared to its average volume of 114,156. The business has a 50 day moving average of $148.12 and a 200 day moving average of $129.70. The firm has a market capitalization of $7.10 billion, a price-to-earnings ratio of 48.43 and a beta of 1.50. Colliers International Group has a fifty-two week low of $94.85 and a fifty-two week high of $156.96. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13.

Analysts Set New Price Targets

A number of analysts have issued reports on CIGI shares. Royal Bank of Canada raised their price target on Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $150.00 to $160.00 in a report on Friday, August 2nd. National Bankshares upped their target price on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price target on Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, Scotiabank upped their target price on Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.42.

Get Our Latest Analysis on CIGI

Colliers International Group Company Profile

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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.

See Also

Earnings History for Colliers International Group (NASDAQ:CIGI)

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