Colliers Intl Gr Q1 2024 Adj EPS $0.77 Misses $0.94 Estimate, Sales $1.002B Beat $992.178M Estimate
Portfolio Pulse from Benzinga Newsdesk
Colliers Intl Gr (CIGI) reported Q1 2024 earnings of $0.77 per share, missing the $0.94 estimate, a 10.47% decrease from last year. Sales reached $1.002B, beating the $992.178M estimate, marking a 3.74% increase from the previous year.
May 02, 2024 | 11:37 am
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NEUTRAL IMPACT
Colliers Intl Gr reported a miss on Q1 2024 EPS estimates but beat sales forecasts, with a decrease in earnings and an increase in sales compared to last year.
The miss on EPS estimates and the decrease in earnings YOY could negatively impact investor sentiment, potentially putting downward pressure on CIGI's stock price. However, the beat on sales estimates and the YOY sales growth could offset some of the negative impact, leading to a neutral short-term price direction. The mixed financial performance indicates uncertainty in how the market will react, justifying a neutral score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100