Scotiabank Has Bearish Outlook for CIGI FY2024 Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Stock analysts at Scotiabank lowered their FY2024 EPS estimates for Colliers International Group in a research report issued on Wednesday, January 8th. Scotiabank analyst H. Gupta now expects that the financial services provider will earn $5.40 per share for the year, down from their previous estimate of $5.58. Scotiabank currently has a “Sector Outperform” rating and a $167.50 price objective 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.

Colliers International Group (NASDAQ:CIGI) (TSE:CIGI) last posted 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). Colliers International Group had a net margin of 3.38% and a return on equity of 21.78%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $1.10 EPS. The company’s revenue was up 11.7% on a year-over-year basis.

CIGI has been the topic of several other research reports. JPMorgan Chase & Co. initiated coverage on shares of Colliers International Group in a report on Monday, December 16th. They set a “neutral” rating and a $167.00 price objective on the stock. BMO Capital Markets raised their price target on shares of Colliers International Group from $163.00 to $164.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. National Bank Financial raised shares of Colliers International Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group initiated coverage on Colliers International Group in a research report on Friday, December 6th. They issued a “neutral” rating and a $170.00 target price on the stock. Finally, StockNews.com cut Colliers International Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.44.

Colliers International Group Trading Down 2.9 %

Colliers International Group stock opened at $130.86 on Friday. 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 stock has a market cap of $6.60 billion, a PE ratio of 41.68 and a beta of 1.49. The stock has a 50-day moving average of $144.59 and a two-hundred day moving average of $140.39. Colliers International Group has a one year low of $101.01 and a one year high of $156.96.

Colliers International Group Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, December 31st. This represents a dividend yield of 0.2%. Colliers International Group’s payout ratio is currently 9.55%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CIGI. The Manufacturers Life Insurance Company boosted its stake in shares of 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 worth $112,834,000 after acquiring an additional 326,453 shares in the last quarter. Bank of Montreal Can raised its holdings 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 worth $76,703,000 after purchasing an additional 6,178 shares during the period. Franklin Resources Inc. boosted its position in Colliers International Group by 100.8% during the third quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock worth $102,261,000 after purchasing an additional 340,691 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Colliers International Group in the third quarter valued at approximately $69,920,000. Finally, Vulcan Value Partners LLC increased its position in shares of Colliers International Group by 4.6% in the second quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock valued at $50,767,000 after buying an additional 20,150 shares in the last quarter. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

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.