Colliers International Group (NASDAQ:CIGI) Posts Earnings Results

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

Colliers International Group Stock Down 2.9 %

Colliers International Group stock traded down $4.08 during midday trading on Friday, hitting $136.22. 308,111 shares of the stock were exchanged, compared to its average volume of 158,055. Colliers International Group has a 1 year low of $83.38 and a 1 year high of $140.52. The firm has a market cap of $6.67 billion, a P/E ratio of 66.45 and a beta of 1.50. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50 day moving average price of $117.95 and a two-hundred day moving average price of $116.99.

Colliers International Group Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada lifted their price target on shares of Colliers International Group from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank lifted their target price on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a report on Friday. National Bankshares lifted 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 report on Friday. Finally, Raymond James lowered shares of Colliers International Group from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $150.00 to $160.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.83.

Colliers International Group Company Profile

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.