CIGI - Colliers International: Turnaround Isn't Fully Priced In Yet
2024-02-12 03:15:58 ET
Summary
- CIGI's recent fourth quarter top line and bottom line exceeded the sell side's expectations by +1.9% and +3.5%, respectively.
- The company sees its revenue and earnings expanding by +7.5% and +15.0% (mid-point of guidance), respectively in the current year which indicates that a turnaround is in sight.
- I think that Colliers International's shares are undervalued and deserving of a Buy rating based on a comparison of its EV/EBIT multiple and its expected EBIT growth.
Elevator Pitch
I still have a Buy rating awarded to Colliers International Group Inc. ( CIGI ) ( CIGI:CA ) stock. In my prior November 3, 2023 article , I performed a review of Colliers International's results for the second quarter of the previous year....
Colliers International: Turnaround Isn't Fully Priced In Yet