National Bank Financial Predicts CIGI FY2024 Earnings

Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI - Equities researchers at National Bank Financial raised their FY2024 earnings estimates for shares of Colliers International Group in a research note issued to investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now anticipates that the financial services provider will post earnings per share of $5.42 for the year, up from their prior estimate of $5.39. National Bank Financial currently has a "Strong-Buy" rating on the stock. The consensus estimate for Colliers International Group's current full-year earnings is $5.44 per share. National Bank Financial also issued estimates for Colliers International Group's Q4 2024 earnings at $2.26 EPS, Q1 2025 earnings at $1.17 EPS, Q3 2025 earnings at $1.68 EPS and Q4 2025 earnings at $2.12 EPS.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.17). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The business's revenue for the quarter was up 11.7% on a year-over-year basis.

Several other equities research analysts have also commented on CIGI. Scotiabank upped their price target on shares of Colliers International Group from $155.00 to $167.50 and gave the company a "sector outperform" rating in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective 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. The Goldman Sachs Group started coverage on Colliers International Group in a research report on Friday. They set a "neutral" rating and a $170.00 target price on the stock. StockNews.com cut Colliers International Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Finally, BMO Capital Markets raised their price objective on Colliers International Group from $163.00 to $164.00 and gave the company an "outperform" rating in a report on Friday, September 13th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $161.79.

Colliers International Group Stock Down 0.2 %

Shares of CIGI stock traded down $0.24 during trading hours on Friday, reaching $151.79. 103,530 shares of the company's stock were exchanged, compared to its average volume of 112,417. The stock has a market cap of $7.46 billion, a PE ratio of 48.42 and a beta of 1.47. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.42. The stock's fifty day moving average price is $150.08 and its two-hundred day moving average price is $135.40. Colliers International Group has a 1 year low of $101.01 and a 1 year high of $156.96.

Hedge Funds Weigh In On Colliers International Group

Several institutional investors have recently bought and sold shares of CIGI. Empowered Funds LLC increased its position in shares of Colliers International Group by 60.5% during the third quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider's stock worth $1,885,000 after acquiring an additional 4,678 shares during the period. Thrivent Financial for Lutherans acquired a new stake in Colliers International Group during the 3rd quarter worth $2,581,000. Addenda Capital Inc. lifted its position in Colliers International Group by 20.6% in the second quarter. Addenda Capital Inc. now owns 153,625 shares of the financial services provider's stock valued at $17,152,000 after purchasing an additional 26,263 shares during the period. Hantz Financial Services Inc. purchased a new position in Colliers International Group in the second quarter valued at about $567,000. Finally, Bank of Montreal Can grew its stake in Colliers International Group by 0.9% in the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider's stock valued at $76,703,000 after acquiring an additional 6,178 shares during the last quarter. 80.09% of the stock is owned by institutional investors and hedge funds.

Colliers International Group Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Tuesday, December 31st will be given a dividend of $0.15 per share. This represents a dividend yield of 0.2%. The ex-dividend date is Tuesday, December 31st. Colliers International Group's payout ratio is 9.55%.

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.