Colliers International Group (NASDAQ:CIGI) Issues FY 2024 Earnings Guidance

Colliers International Group (NASDAQ:CIGIGet Free Report) (TSE:CIGI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 5.670-5.990 for the period, compared to the consensus 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.

Colliers International Group Price Performance

Shares of CIGI stock traded up $3.89 during trading on Thursday, hitting $151.22. The company had a trading volume of 113,694 shares, compared to its average volume of 114,751. The stock’s 50-day moving average is $148.38 and its two-hundred day moving average is $129.97. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 51.44 and a beta of 1.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. Colliers International Group has a 52 week low of $94.85 and a 52 week high of $156.96.

Colliers International Group (NASDAQ:CIGIGet Free Report) (TSE:CIGI) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the company earned $1.10 EPS. Colliers International Group’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts predict that Colliers International Group will post 5.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CIGI shares. Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their target price for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. National Bankshares upped their price target on shares of Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Scotiabank lifted their price target on Colliers International Group from $155.00 to $167.50 and gave the stock a “sector outperform” rating in a research note on Wednesday. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada lifted their target price on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $160.42.

Check Out Our Latest Research Report on CIGI

About Colliers International Group

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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.

Further Reading

Earnings History and Estimates for Colliers International Group (NASDAQ:CIGI)

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