Stifel Canada Has Bearish Forecast for CIGI Q3 Earnings

Colliers International Group Inc. (NASDAQ:CIGI) (TSE:CIGI) – Equities researchers at Stifel Canada reduced their Q3 2024 earnings estimates for shares of Colliers International Group in a research report issued on Wednesday, October 30th. Stifel Canada analyst D. Young now forecasts that the financial services provider will post earnings of $1.35 per share for the quarter, down from their previous estimate of $1.46. The consensus estimate for Colliers International Group’s current full-year earnings is $5.63 per share. Stifel Canada also issued estimates for Colliers International Group’s FY2024 earnings at $5.55 EPS and FY2025 earnings at $6.74 EPS.

Several other brokerages also recently commented on CIGI. National Bankshares increased their price target on Colliers International Group from $125.00 to $137.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. BMO Capital Markets lifted their target price 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. Stifel Nicolaus boosted their target price on shares of Colliers International Group from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price target on Colliers International Group from $160.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Raymond James cut Colliers International Group from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $150.00 to $160.00 in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Colliers International Group has an average rating of “Moderate Buy” and an average target price of $158.33.

Colliers International Group Price Performance

NASDAQ CIGI opened at $149.02 on Monday. The stock’s 50-day moving average is $148.12 and its two-hundred day moving average is $129.70. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. Colliers International Group has a fifty-two week low of $94.85 and a fifty-two week high of $156.29. The firm has a market cap of $7.32 billion, a P/E ratio of 50.69 and a beta of 1.50.

Hedge Funds Weigh In On Colliers International Group

Several large investors have recently added to or reduced their stakes in CIGI. Vanguard Group Inc. increased its position in shares of Colliers International Group by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,300,961 shares of the financial services provider’s stock valued at $159,016,000 after purchasing an additional 5,152 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Colliers International Group by 47.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,898 shares of the financial services provider’s stock valued at $112,834,000 after buying an additional 326,453 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Colliers International Group by 5.9% during the 2nd quarter. Victory Capital Management Inc. now owns 743,150 shares of the financial services provider’s stock worth $82,973,000 after acquiring an additional 41,225 shares during the period. Bank of Montreal Can boosted its position in shares of Colliers International Group by 0.9% during the 2nd quarter. Bank of Montreal Can now owns 689,358 shares of the financial services provider’s stock valued at $76,703,000 after acquiring an additional 6,178 shares in the last quarter. Finally, Vulcan Value Partners LLC boosted its position in shares of Colliers International Group by 4.6% during the 2nd quarter. Vulcan Value Partners LLC now owns 454,181 shares of the financial services provider’s stock valued at $50,767,000 after acquiring an additional 20,150 shares in the last quarter. Institutional investors and hedge funds own 80.09% of the company’s stock.

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.