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

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $5.89 to $6.42 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

CIGI has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on Colliers International Group from $150.00 to $145.00 and set an outperform rating for the company in a research note on Friday. BMO Capital Markets upped their target price on Colliers International Group from $129.00 to $137.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Scotiabank reduced their target price on Colliers International Group from $140.00 to $135.00 and set a sector outperform rating for the company in a research note on Wednesday, April 17th. Raymond James upped their target price on Colliers International Group from $140.00 to $145.00 and gave the stock a strong-buy rating in a research note on Friday, February 9th. Finally, Stifel Nicolaus increased their price objective on Colliers International Group from $130.00 to $145.00 and gave the company a buy rating in a research note on Friday, February 2nd. Two equities research 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. According to MarketBeat, Colliers International Group presently has a consensus rating of Moderate Buy and an average price target of $137.57.

Colliers International Group Trading Up 3.2 %

CIGI traded up $3.37 during mid-day trading on Friday, hitting $107.98. 183,399 shares of the stock were exchanged, compared to its average volume of 120,885. The firm’s fifty day moving average is $115.46 and its two-hundred day moving average is $112.46. Colliers International Group has a 1-year low of $83.38 and a 1-year high of $131.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.76. The company has a market cap of $5.28 billion, a PE ratio of 52.67 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.01). The company had revenue of $1.24 billion during 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%. Equities analysts forecast that Colliers International Group will post 5.56 earnings per share for the current fiscal year.

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.