Stifel Canada Analysts Reduce Earnings Estimates for CIGI

Colliers International Group Inc. (NASDAQ:CIGI - Free Report) TSE: CIGI - Investment analysts at Stifel Canada lowered their Q3 2024 earnings per share (EPS) estimates for shares of Colliers International Group in a research report issued to clients and investors on Wednesday, October 30th. Stifel Canada analyst D. Young now anticipates that the financial services provider will post earnings per share of $1.35 for the quarter, down from their previous estimate of $1.46. The consensus estimate for Colliers International Group's current full-year earnings is $5.65 per share. Stifel Canada also issued estimates for Colliers International Group's FY2024 earnings at $5.55 EPS and FY2025 earnings at $6.74 EPS.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus raised 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, August 2nd. 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, August 2nd. Royal Bank of Canada raised their price objective on Colliers International Group from $160.00 to $174.00 and gave the company an "outperform" rating in a research note on Monday, October 21st. National Bankshares raised 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, August 2nd. Finally, StockNews.com downgraded Colliers International Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $158.33.

Colliers International Group Stock Up 1.4 %

NASDAQ CIGI traded up $2.09 during mid-day trading on Monday, reaching $154.03. 101,108 shares of the company's stock traded hands, compared to its average volume of 112,609. Colliers International Group has a 1-year low of $94.85 and a 1-year high of $156.29. The company has a fifty day simple moving average of $147.86 and a 200-day simple moving average of $129.07. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 52.49 and a beta of 1.50.

Colliers International Group (NASDAQ:CIGI - Get Free Report) TSE: CIGI last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.01). Colliers International Group had a net margin of 3.20% and a return on equity of 23.60%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the business posted $1.21 earnings per share. The business's quarterly revenue was up 5.7% compared to the same quarter last year.

Institutional Trading of Colliers International Group

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Colliers International Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider's stock valued at $159,016,000 after purchasing an additional 5,152 shares during the period. The Manufacturers Life Insurance Company boosted its position in Colliers International Group by 47.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider's stock valued at $112,834,000 after purchasing an additional 326,453 shares during the period. Victory Capital Management Inc. boosted its position in Colliers International Group by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider's stock valued at $82,973,000 after purchasing an additional 41,225 shares during the period. Bank of Montreal Can boosted its position in Colliers International Group by 0.9% during 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 purchasing an additional 6,178 shares during the period. Finally, Vulcan Value Partners LLC boosted its position in Colliers International Group by 4.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider's stock valued at $50,767,000 after purchasing an additional 20,150 shares during the period. Institutional investors own 80.09% of the company's stock.

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.