FirstService (NASDAQ:FSV) Rating Lowered to “Hold” at Wall Street Zen

FirstService (NASDAQ:FSV) (TSE:FSV) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also weighed in on FSV. Weiss Ratings lowered shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Scotiabank set a $170.00 price target on FirstService in a research note on Friday, July 24th. BMO Capital Markets cut their price target on FirstService from $199.00 to $192.00 and set an “outperform” rating on the stock in a report on Friday, July 24th. Loop Capital initiated coverage on FirstService in a research report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $144.00 price objective on shares of FirstService in a report on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, FirstService presently has an average rating of “Moderate Buy” and an average target price of $184.20.

FirstService Stock Performance

Shares of FSV opened at $140.89 on Friday. The firm has a market cap of $6.48 billion, a P/E ratio of 39.91, a PEG ratio of 3.12 and a beta of 0.93. FirstService has a twelve month low of $119.41 and a twelve month high of $209.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.66 and a current ratio of 1.58. The firm’s 50 day moving average price is $140.60 and its two-hundred day moving average price is $144.82.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data 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. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts forecast that FirstService will post 5.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FSV. Truist Financial Corp increased its position in shares of FirstService by 0.9% during the 4th quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 77 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after buying an additional 77 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 79 shares in the last quarter. Hilltop National Bank increased its holdings in FirstService by 4.1% during the second quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after buying an additional 81 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

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.