CIGI Stock Recent News

TORONTO and OTTAWA, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today that its Canadian engineering platform, Englobe Corporation (“Englobe”), has acquired Goodkey, Weedmark & Associates Limited (“GWAL”), a leading building engineering consulting firm in Ontario. The addition will strengthen Englobe's scale and service capabilities in Canada's largest market.

Colliers International (CIGI) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

I continue to rate CIGI stock as a Buy, investors' focus should be on the company's inorganic growth initiative rather than its headline earnings miss. Colliers International's Q2 2024 headline EPS miss is attributable to foreign exchange effects, and its other key metrics revenue and EBITDA were above expectations. CIGI's latest M&A deal improves the company's earnings quality and boosts its growth outlook for full-year FY 2024.

Colliers International Group Inc. (NASDAQ:CIGI ) Q2 2024 Earnings Conference Call August 1, 2024 11:00 AM ET Company Participants Christian Mayer – CFO Chris McLernon – CEO, Real Estate Services Jay Hennick – Global Chairman and CEO Conference Call Participants Stephen MacLeod - BMO Capital Markets Stephen Sheldon - William Blair Khing Shan - RBC Capital Markets Himanshu Gupta - Scotiabank Frederic Bastien - Raymond James Daryl Young - Stifel Nicolaus Operator Welcome to the Colliers International Second Quarter Investors Conference Call. Legal Counsel requires us to advise that the discussion scheduled to take place today may contain forward-looking statements that involve known and unknown risks and uncertainties.

Colliers International (CIGI) came out with quarterly earnings of $1.36 per share, missing the Zacks Consensus Estimate of $1.37 per share. This compares to earnings of $1.31 per share a year ago.

Growth across all service lines and segments Second quarter and year to date operating highlights:   Three months ended   Six months ended   June 30   June 30 (in millions of US$, except EPS)   2024     2023       2024     2023                           Revenues $ 1,139.4   $ 1,078.0     $ 2,141.3   $ 2,043.9   Adjusted EBITDA (note 1)   155.6     147.1       264.3     251.7   Adjusted EPS (note 2)   1.36     1.31       2.13     2.16                           GAAP operating earnings   114.7     75.3       158.1     97.4   GAAP diluted net earnings (loss) per share   0.73     (0.16 )     0.99     (0.61 ) TORONTO, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ and TSX: CIGI) (“Colliers” or the “Company”) today announced operating and financial results for the second quarter ended June 30, 2024. All amounts are in US dollars.

TORONTO and LAVAL, Quebec, July 30, 2024 (GLOBE NEWSWIRE) -- Global diversified professional services and investment management company, Colliers (NASDAQ, TSX: CIGI), announced today it has completed its previously announced acquisition of a controlling interest of Englobe Corporation (“Englobe”), a leading Canadian multi-discipline engineering, environmental and inspection services firm. The acquisition represents Colliers' entry into the attractive Canadian engineering marketplace and enhances our capabilities in our growing Engineering division.

TORONTO, July 11, 2024 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (TSX & NASDAQ: CIGI) (“Colliers” or the “Company”) today announced that results for the second quarter ended June 30, 2024, will be issued by press release on August 1, 2024, at approximately 7:00am ET.

LONDON and ZURICH, July 10, 2024 (GLOBE NEWSWIRE) -- Colliers, a leading diversified professional services and investment management company, is set to fortify its European presence through a partnership agreement with SPGI Zurich AG. This strategic alignment will see the Switzerland-based commercial property advisor join Colliers' expansive EMEA platform as an affiliate.

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