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 EPS guidance of $5.89 to $6.42 for the period, compared to the consensus EPS 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

Shares of NASDAQ CIGI opened at $107.98 on Friday. Colliers International Group has a 1-year low of $83.38 and a 1-year high of $131.05. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.02 and a quick ratio of 1.02. The business’s fifty day moving average price is $115.46 and its two-hundred day moving average price is $112.46. The firm 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 issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.83 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.20 billion. Colliers International Group had a net margin of 2.25% and a return on equity of 29.59%. On average, research analysts expect that Colliers International Group will post 5.56 EPS for the current year.

Wall Street Analysts Forecast Growth

CIGI has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Colliers International Group from $150.00 to $145.00 and set an outperform rating on the stock in a report on Friday. Stifel Nicolaus lifted their target price on Colliers International Group from $130.00 to $145.00 and gave the stock a buy rating in a report on Friday, February 2nd. Raymond James lifted their target price on Colliers International Group from $140.00 to $145.00 and gave the stock a strong-buy rating in a report on Friday, February 9th. Scotiabank lowered their target price on Colliers International Group from $140.00 to $135.00 and set a sector outperform rating on the stock in a report on Wednesday, April 17th. Finally, BMO Capital Markets lifted their target price on Colliers International Group from $129.00 to $137.00 and gave the stock an outperform rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Colliers International Group currently has a consensus rating of Moderate Buy and an average target price of $137.57.

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.