FirstService Corporation (NASDAQ:FSV) Receives $217.75 Average PT from Analysts

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been given a consensus rating of “Hold” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $217.75.

Several research analysts have issued reports on the stock. Scotiabank raised their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Sunday, September 7th. Zacks Research cut FirstService from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. Finally, TD Securities reaffirmed a “hold” rating on shares of FirstService in a report on Thursday, September 4th.

Hedge Funds Weigh In On FirstService

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of FirstService by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock valued at $301,051,000 after purchasing an additional 20,872 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of FirstService by 100.8% in the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after purchasing an additional 740,583 shares in the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock valued at $248,636,000 after purchasing an additional 6,680 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of FirstService by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock valued at $111,424,000 after purchasing an additional 15,334 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of FirstService by 8.8% in the second quarter. Franklin Resources Inc. now owns 586,891 shares of the financial services provider’s stock valued at $102,482,000 after purchasing an additional 47,696 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Trading Down 1.3%

NASDAQ FSV opened at $188.00 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The firm’s fifty day moving average price is $198.57 and its 200 day moving average price is $182.09. The company has a market capitalization of $8.57 billion, a price-to-earnings ratio of 60.26 and a beta of 0.99. FirstService has a 12 month low of $153.13 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the firm posted $1.36 EPS. FirstService’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that FirstService will post 5.27 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.10 annualized dividend and a dividend yield of 0.6%. FirstService’s payout ratio is presently 35.26%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.