FirstService Corporation (NASDAQ:FSV) Stock Has Consensus Price Target of $184.20

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $184.20.

FSV has been the topic of several research reports. TD Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of FirstService in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $144.00 price objective on shares of FirstService in a research report on Friday, July 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FirstService in a research report on Wednesday, August 26th. Scotiabank set a $170.00 price target on shares of FirstService in a research report on Friday, July 24th. Finally, BMO Capital Markets lowered their price objective on FirstService from $199.00 to $192.00 and set an “outperform” rating on the stock in a research report on Friday, July 24th.

FirstService Stock Performance

NASDAQ:FSV opened at $129.73 on Monday. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.84 and a beta of 0.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. FirstService has a 1-year low of $119.41 and a 1-year high of $189.05. The business has a 50 day moving average of $137.05 and a 200 day moving average of $138.88.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%. FirstService’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.71 EPS. On average, sell-side analysts predict that FirstService will post 5.61 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were paid a $0.3050 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s dividend payout ratio is currently 34.56%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC boosted its holdings in shares of FirstService by 19.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider’s stock valued at $195,289,000 after acquiring an additional 233,043 shares during the last quarter. SEB Asset Management AB acquired a new position in FirstService in the 1st quarter worth about $31,487,000. Janus Henderson Group PLC lifted its position in shares of FirstService by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider’s stock valued at $220,560,000 after buying an additional 219,890 shares in the last quarter. Brown Advisory Inc. grew its stake in FirstService by 37.7% in the 4th quarter. Brown Advisory Inc. now owns 330,980 shares of the financial services provider’s stock valued at $51,477,000 after acquiring an additional 90,676 shares during the period. Finally, Royal Bank of Canada grew its stake in FirstService by 15.7% in the 1st quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider’s stock valued at $79,672,000 after acquiring an additional 77,758 shares during the period. 69.35% of the stock is currently owned by institutional investors.

About FirstService

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners’ association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.