Scotiabank Issues Pessimistic Forecast for CIGI Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Equities research analysts at Scotiabank lowered their FY2024 earnings estimates for shares of Colliers International Group in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst H. Gupta now forecasts that the financial services provider will earn $5.40 per share for the year, down from their previous forecast of $5.58. Scotiabank currently has a “Sector Outperform” rating and a $167.50 price target on the stock. The consensus estimate for Colliers International Group’s current full-year earnings is $5.44 per share. Scotiabank also issued estimates for Colliers International Group’s FY2025 earnings at $6.49 EPS.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Colliers International Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. BMO Capital Markets increased their price objective on shares of Colliers International Group from $163.00 to $164.00 and gave the company an “outperform” rating in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on shares of Colliers International Group in a research note on Friday, December 6th. They issued a “neutral” rating and a $170.00 target price on the stock. National Bank Financial upgraded Colliers International Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. began coverage on Colliers International Group in a research report on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective on the stock. Four investment 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 stock. Based on data from MarketBeat.com, Colliers International Group has a consensus rating of “Moderate Buy” and an average target price of $162.44.

Colliers International Group Stock Down 2.9 %

NASDAQ CIGI opened at $130.86 on Friday. The business has a fifty day moving average price of $144.59 and a 200 day moving average price of $140.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $6.60 billion, a P/E ratio of 41.68 and a beta of 1.49. Colliers International Group has a one year low of $101.01 and a one year high of $156.96.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. Colliers International Group’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.10 EPS.

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 $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a yield of 0.2%. Colliers International Group’s payout ratio is 9.55%.

Institutional Trading of Colliers International Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Colliers International Group by 26.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 593 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 124 shares during the period. Plato Investment Management Ltd acquired a new position in Colliers International Group during the third quarter worth $112,000. Blue Trust Inc. boosted its position in shares of Colliers International Group by 197.8% during the third quarter. Blue Trust Inc. now owns 932 shares of the financial services provider’s stock worth $141,000 after buying an additional 619 shares during the period. Stonegate Investment Group LLC acquired a new stake in shares of Colliers International Group in the third quarter valued at $264,000. Finally, HighTower Advisors LLC grew its stake in shares of Colliers International Group by 13.6% in the third quarter. HighTower Advisors LLC now owns 2,119 shares of the financial services provider’s stock valued at $323,000 after buying an additional 254 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

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.