Colliers International Group (NASDAQ:CIGI) Updates FY24 Earnings Guidance

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.89 to $6.42 for the period, compared to the consensus estimate of $6.06. The company issued revenue guidance of $4.55 billion to $4.77 billion, compared to the consensus revenue estimate of $4.59 billion.

Colliers International Group Price Performance

NASDAQ:CIGI traded up $3.37 during trading hours on Friday, hitting $107.98. The company’s stock had a trading volume of 183,399 shares, compared to its average volume of 120,885. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day moving average is $115.46 and its two-hundred day moving average is $112.46. Colliers International Group has a 52-week low of $83.38 and a 52-week high of $131.05. The company has a market capitalization of $5.28 billion, a PE ratio of 52.67 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.01). The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Colliers International Group had a return on equity of 29.59% and a net margin of 2.25%. As a group, research analysts anticipate that Colliers International Group will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Colliers International Group from $130.00 to $145.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Scotiabank lowered their target price on shares of Colliers International Group from $140.00 to $135.00 and set a sector outperform rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada cut their price target on shares of Colliers International Group from $150.00 to $145.00 and set an outperform rating on the stock in a research note on Friday. Raymond James boosted their price objective on shares of Colliers International Group from $140.00 to $145.00 and gave the company a strong-buy rating in a research note on Friday, February 9th. Finally, BMO Capital Markets increased their target price on Colliers International Group from $129.00 to $137.00 and gave the stock an outperform rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $137.57.

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.