FirstService (NASDAQ:FSV) Stock Breaks Below 200 Day Moving Average – What’s Next?

FirstService Corporation (NASDAQ:FSV) (TSE:FSV)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $142.62 and traded as low as $140.11. FirstService shares last traded at $141.20, with a volume of 112,127 shares changing hands.

Wall Street Analysts Forecast Growth

FSV has been the subject of a number of recent analyst reports. TD upped their price target on shares of FirstService from $195.00 to $203.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Canadian Imperial Bank of Commerce lifted their price objective on FirstService from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Friday, October 23rd. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BMO Capital Markets reissued an “outperform” rating and set a $179.00 price objective on shares of FirstService in a research report on Friday, October 23rd. Finally, Weiss Ratings upgraded FirstService from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.82.

FirstService Stock Up 4.0%

The firm has a 50 day moving average of $135.69 and a 200-day moving average of $142.45. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.52 and a quick ratio of 1.63. The stock has a market capitalization of $6.31 billion, a P/E ratio of 44.05, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. FirstService had a return on equity of 19.66% and a net margin of 2.59%. FirstService’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.76 EPS. On average, equities research analysts expect that FirstService Corporation will post 5.62 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 30th. FirstService’s payout ratio is 37.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conestoga Capital Advisors LLC grew its position in FirstService by 19.9% in the first 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 period. SEB Asset Management AB acquired a new stake in shares of FirstService in the 1st quarter valued at $31,487,000. Janus Henderson Group PLC grew its holdings in shares of FirstService by 16.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider’s stock worth $220,560,000 after purchasing an additional 219,890 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of FirstService by 15.7% in the 1st quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider’s stock worth $79,672,000 after purchasing an additional 77,758 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. grew its holdings in shares of FirstService by 38.1% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 263,488 shares of the financial services provider’s stock worth $36,538,000 after purchasing an additional 72,665 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

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

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.