Brokerages Set FirstService Corporation (NASDAQ:FSV) Price Target at $211.83

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $211.8333.

A number of equities analysts have issued reports on FSV shares. Scotiabank upgraded FirstService from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $220.00 to $205.00 in a research report on Friday, October 24th. Stifel Nicolaus decreased their price target on shares of FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. CIBC dropped their price target on FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. TD Securities reduced their price objective on FirstService from $213.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, Raymond James Financial lowered their price objective on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th.

Institutional Trading of FirstService

A number of hedge funds and other institutional investors have recently made changes to their positions in FSV. Fiera Capital Corp boosted its holdings in FirstService by 3.9% during the 1st quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider’s stock valued at $44,639,000 after acquiring an additional 10,087 shares during the period. TD Asset Management Inc lifted its position in shares of FirstService by 61.6% during the first quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider’s stock worth $55,637,000 after purchasing an additional 127,846 shares in the last quarter. Summit Creek Advisors LLC lifted its position in shares of FirstService by 8.4% during the first quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider’s stock worth $19,125,000 after purchasing an additional 8,961 shares in the last quarter. Advisors Capital Management LLC boosted its stake in shares of FirstService by 12.0% in the second quarter. Advisors Capital Management LLC now owns 25,350 shares of the financial services provider’s stock valued at $4,427,000 after purchasing an additional 2,706 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of FirstService by 14.0% in the first quarter. Northern Trust Corp now owns 73,509 shares of the financial services provider’s stock valued at $12,199,000 after purchasing an additional 9,013 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 0.1%

Shares of FSV opened at $150.91 on Friday. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90. FirstService has a 52 week low of $149.13 and a 52 week high of $209.66. The stock’s 50-day moving average price is $178.32 and its 200-day moving average price is $182.33. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 49.97 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, meeting the consensus estimate of $1.76. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. On average, sell-side analysts predict that FirstService will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. FirstService’s payout ratio is 36.42%.

About FirstService

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.