Colliers International Group (NASDAQ:CIGI) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) announced its quarterly earnings data on Thursday. The financial services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.01), Briefing.com reports. Colliers International Group had a return on equity of 25.35% and a net margin of 3.20%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. Colliers International Group’s quarterly revenue was up 5.7% compared to the same quarter last year. Colliers International Group updated its FY 2024 guidance to 5.940-6.470 EPS.

Colliers International Group Trading Down 2.9 %

Shares of CIGI stock traded down $4.08 on Friday, hitting $136.22. The company had a trading volume of 308,111 shares, compared to its average volume of 158,055. The firm has a market cap of $6.67 billion, a P/E ratio of 66.45 and a beta of 1.50. The stock’s 50-day moving average is $117.95 and its two-hundred day moving average is $116.99. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.18 and a current ratio of 1.18. Colliers International Group has a twelve month low of $83.38 and a twelve month high of $140.52.

Colliers International Group Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.15 dividend. The ex-dividend date was Friday, June 28th. This represents a dividend yield of 0.3%. Colliers International Group’s payout ratio is 14.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CIGI. Raymond James downgraded Colliers International Group from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $160.00 in a research report on Friday. National Bankshares increased their target price on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research report on Friday. Stifel Nicolaus increased their target price on Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets increased their target price on Colliers International Group from $140.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada increased their target price on Colliers International Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.83.

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.