FirstService (NASDAQ:FSV) Stock Passes Below 50 Day Moving Average – What’s Next?

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $137.63 and traded as low as $137.12. FirstService shares last traded at $140.85, with a volume of 285,014 shares.

Wall Street Analyst Weigh In

FSV has been the subject of several analyst reports. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. TD Securities set a $204.00 price target on shares of FirstService in a report on Friday, April 24th. Scotiabank cut their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research report on Friday, April 24th. TD raised their price objective on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Finally, Stifel Nicolaus reduced their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.22.

FirstService Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $6.47 billion, a PE ratio of 39.79, a PEG ratio of 4.13 and a beta of 0.95. The business has a fifty day moving average price of $137.63 and a 200-day moving average price of $146.90.

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

FirstService Announces Dividend

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

Institutional Investors Weigh In On FirstService

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in FirstService by 79.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after purchasing an additional 141,152 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in FirstService by 40.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after buying an additional 17,072 shares during the period. Strs Ohio purchased a new stake in FirstService during the first quarter valued at about $38,000. Cetera Investment Advisers grew its stake in shares of FirstService by 55.3% during the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock valued at $454,000 after buying an additional 925 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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.