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

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) posted its quarterly earnings results on Tuesday. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.17), Briefing.com reports. Colliers International Group had a return on equity of 23.60% and a net margin of 3.20%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The firm’s 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

Shares of CIGI traded down $7.34 during midday trading on Wednesday, reaching $141.68. The stock had a trading volume of 129,092 shares, compared to its average volume of 114,097. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 48.43 and a beta of 1.50. The company’s 50-day moving average is $148.12 and its 200 day moving average is $129.70. Colliers International Group has a 12-month low of $94.85 and a 12-month high of $156.96.

Analyst Upgrades and Downgrades

CIGI has been the subject of a number of research reports. Royal Bank of Canada increased 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 report on Monday, October 21st. National Bankshares lifted their price objective 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. Stifel Nicolaus boosted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com lowered Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the company from $150.00 to $160.00 in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Colliers International Group currently has a consensus rating of “Moderate Buy” and an average price target of $160.42.

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.