FirstService Corporation (NASDAQ:FSV) Given Consensus Rating of “Moderate Buy” by Brokerages

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $196.8889.

Several analysts have commented on FSV shares. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $202.00 price target on shares of FirstService in a report on Thursday, February 5th. Weiss Ratings cut shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday. TD Cowen dropped their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, Stifel Nicolaus dropped their price target on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th.

Institutional Investors Weigh In On FirstService

A number of institutional investors have recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company grew its stake in FirstService by 493.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock valued at $432,173,000 after acquiring an additional 2,307,684 shares during the period. Wellington Management Group LLP grew its stake in FirstService by 18,366.1% in the 4th quarter. Wellington Management Group LLP now owns 719,993 shares of the financial services provider’s stock valued at $111,981,000 after acquiring an additional 716,094 shares during the period. Janus Henderson Group PLC grew its stake in FirstService by 73.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,367,564 shares of the financial services provider’s stock valued at $212,698,000 after acquiring an additional 579,615 shares during the period. Norges Bank acquired a new stake in FirstService in the 4th quarter valued at $85,597,000. Finally, Orbis Allan Gray Ltd boosted its stake in FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock worth $308,677,000 after purchasing an additional 530,489 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Stock Up 0.0%

Shares of FSV opened at $134.25 on Tuesday. FirstService has a 12-month low of $119.41 and a 12-month high of $209.66. The firm has a fifty day moving average price of $138.39 and a 200-day moving average price of $148.87. The firm has a market capitalization of $6.17 billion, a P/E ratio of 37.92, a P/E/G ratio of 4.08 and a beta of 0.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that FirstService will post 5.54 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService’s dividend payout ratio (DPR) is currently 34.46%.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.