National Bank Financial Forecasts CIGI FY2024 Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Research analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for Colliers International Group in a note issued to investors on Tuesday, December 3rd. National Bank Financial analyst M. Sytchev now anticipates that the financial services provider will post earnings of $5.42 per share for the year, up from their previous forecast 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.

Several other analysts have also commented on the company. BMO Capital Markets lifted their price objective on Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Royal Bank of Canada raised their price objective on shares of Colliers International Group from $160.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Scotiabank boosted their target price on shares of Colliers International Group from $155.00 to $167.50 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Colliers International Group in a research report on Friday. They issued a “neutral” rating and a $170.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.79.

Colliers International Group Trading Down 0.2 %

Shares of CIGI stock opened at $151.79 on Friday. The stock has a market capitalization of $7.66 billion, a P/E ratio of 48.34 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 firm’s 50 day moving average is $150.15 and its 200 day moving average is $135.80. Colliers International Group has a 12-month low of $101.01 and a 12-month high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 earnings per share (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 company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company posted $1.10 EPS. Colliers International Group’s revenue was up 11.7% on a year-over-year basis.

Hedge Funds Weigh In On Colliers International Group

A number of hedge funds have recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Colliers International Group by 60.5% during the 3rd quarter. Empowered Funds LLC now owns 12,415 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 4,678 shares during the period. Thrivent Financial for Lutherans bought a new stake in Colliers International Group during the third quarter valued at about $2,581,000. Addenda Capital Inc. lifted its position in shares of 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 acquiring an additional 26,263 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Colliers International Group in the second quarter worth about $567,000. Finally, Bank of Montreal Can boosted its stake in shares of Colliers International Group by 0.9% in the second quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock worth $76,703,000 after acquiring an additional 6,178 shares during the period. 80.09% of the stock is currently owned by institutional investors.

Colliers International Group Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. This represents a 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.