Strong earnings forecast for Colliers

Article Excerpt

COLLIERS INTERNATIONAL GROUP INC. $151 is a buy for aggressive investors. This company (Toronto symbol CIGI; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 48.7 million; Market cap: $7.4 billion; Price-to-sales ratio: 1.2; Dividend yield: 0.3%; TSINetwork Rating: Extra Risk; www.colliers.com) offers a range of services, including helping clients buy and sell commercial real estate, arranging financing, and assessing properties for tax purposes. Colliers uses acquisitions to enhance its market share and spur its long-term growth. Those purchases helped lift Colliers’ revenue in the first quarter of 2024 by 3.7%, to $1.00 billion from $965.9 million a year earlier (all amounts except share price and market cap in U.S. dollars). However, lower income from affiliates and higher taxes cut earnings before one-time items by 10.5%, to $0.77 a share from $0.86. For the full year, Colliers expects its earnings will rise between 10% and 20%. Based on the midpoint of that range, the company will likely earn $6.15 a share in 2024, and the…