Scotiabank Issues Pessimistic Outlook for CIGI Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Scotiabank decreased their FY2024 earnings estimates for Colliers International Group in a report issued on Wednesday, January 8th. Scotiabank analyst H. Gupta now anticipates that the financial services provider will post earnings per share of $5.40 for the year, down from their prior 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.

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

Colliers International Group Stock Down 0.9 %

CIGI stock opened at $134.81 on Friday. The stock has a market cap of $6.80 billion, a P/E ratio of 42.93 and a beta of 1.49. 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 stock’s fifty day simple moving average is $144.95 and its two-hundred day simple moving average is $140.43. Colliers International Group has a 1-year low of $101.01 and a 1-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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.17). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Colliers International Group had a return on equity of 21.78% and a net margin of 3.38%. Colliers International Group’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CIGI. The Manufacturers Life Insurance Company raised its position in shares of Colliers International Group by 47.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock worth $112,834,000 after buying an additional 326,453 shares in the last quarter. Bank of Montreal Can increased its stake 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 acquiring an additional 6,178 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Colliers International Group by 100.8% in the 3rd quarter. Franklin Resources Inc. now owns 678,836 shares of the financial services provider’s stock valued at $102,261,000 after acquiring an additional 340,691 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Colliers International Group during the 3rd quarter valued at about $69,920,000. Finally, Vulcan Value Partners LLC grew its holdings in shares of Colliers International Group by 4.6% during the second quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock worth $50,767,000 after purchasing an additional 20,150 shares in the last quarter. Hedge funds and other institutional investors own 80.09% of the company’s stock.

Colliers International Group Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a dividend yield of 0.2%. The ex-dividend date of this dividend is Tuesday, December 31st. Colliers International Group’s dividend payout ratio (DPR) is presently 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.