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

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

Colliers International Group Stock Down 2.9 %

NASDAQ CIGI traded down $4.08 during midday trading on Friday, hitting $136.22. 308,111 shares of the company traded hands, compared to its average volume of 158,055. 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 market cap of $6.67 billion, a PE ratio of 66.45 and a beta of 1.50. The company’s 50-day simple moving average is $117.95 and its 200-day simple moving average is $116.90. Colliers International Group has a 52 week low of $83.38 and a 52 week high of $140.52.

Colliers International Group Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CIGI. Raymond James lowered Colliers International Group from a “strong-buy” rating to an “outperform” rating and raised their price objective for the company from $150.00 to $160.00 in a research note on Friday. Stifel Nicolaus increased their price target on Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday. National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the stock a “sector perform” rating in a report on Friday. Scotiabank increased their price target on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a report on Friday. Finally, BMO Capital Markets increased their price target on Colliers International Group from $140.00 to $163.00 and gave the stock an “outperform” rating 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 stock. According to data from MarketBeat.com, Colliers International Group has an average 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.