National Bank Financial Weighs in on CIGI Q3 Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Investment analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for shares of Colliers International Group in a report issued on Monday, October 21st. National Bank Financial analyst M. Sytchev expects that the financial services provider will earn $1.43 per share for the quarter. The consensus estimate for Colliers International Group’s current full-year earnings is $5.66 per share. National Bank Financial also issued estimates for Colliers International Group’s Q4 2024 earnings at $2.25 EPS, FY2024 earnings at $5.62 EPS and FY2025 earnings at $6.34 EPS.

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

A number of other equities research analysts also recently weighed in on CIGI. StockNews.com downgraded Colliers International Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Raymond James lowered shares of 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 report on Friday, August 2nd. Royal Bank of Canada boosted their target price 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. Stifel Nicolaus raised their price target on shares of Colliers International Group from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Scotiabank lifted their price objective on shares of Colliers International Group from $150.00 to $155.00 and gave the company a “sector outperform” rating in a research note on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.33.

Colliers International Group Price Performance

Shares of NASDAQ:CIGI opened at $155.43 on Thursday. The business has a fifty day simple moving average of $146.70 and a 200 day simple moving average of $127.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. Colliers International Group has a 1 year low of $83.38 and a 1 year high of $155.99. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 75.82 and a beta of 1.49.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Colliers International Group by 575.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 243 shares of the financial services provider’s stock worth $30,000 after buying an additional 207 shares during the last quarter. Blue Trust Inc. grew its position in Colliers International Group by 3,377.8% in the 2nd quarter. Blue Trust Inc. now owns 313 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 304 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Colliers International Group by 252.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 441 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 316 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Colliers International Group during the 1st quarter worth about $118,000. Finally, Tobam raised its position in shares of Colliers International Group by 185.5% during the first quarter. Tobam now owns 1,302 shares of the financial services provider’s stock valued at $159,000 after buying an additional 846 shares during the last quarter. 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.