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

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

Colliers International Group Stock Performance

Colliers International Group stock traded down $4.08 during mid-day trading on Friday, reaching $136.22. 308,111 shares of the stock traded hands, compared to its average volume of 158,055. The business’s 50-day moving average is $117.95 and its 200-day moving average is $116.90. Colliers International Group has a 12-month low of $83.38 and a 12-month high of $140.52. 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 stock has a market capitalization of $6.67 billion, a PE ratio of 66.45 and a beta of 1.50.

Colliers International Group Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were given 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 presently 14.63%.

Analyst Ratings Changes

A number of research analysts have issued reports on CIGI shares. National Bankshares lifted their price objective on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price objective on Colliers International Group from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price target for the stock from $150.00 to $160.00 in a research note on Friday. Finally, Scotiabank boosted their price target on Colliers International Group from $150.00 to $155.00 and gave the stock a “sector outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Colliers International Group presently 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.