TD Securities Lowers FirstService (NASDAQ:FSV) Price Target to $211.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target cut by TD Securities from $213.00 to $211.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ target price suggests a potential upside of 36.18% from the stock’s current price.

A number of other research firms have also recently issued reports on FSV. Zacks Research cut FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Raymond James Financial reduced their target price on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Finally, Stifel Nicolaus reduced their target price on shares of FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average target price of $211.83.

FirstService Stock Down 0.4%

Shares of FirstService stock traded down $0.70 during trading hours on Wednesday, reaching $154.94. The company’s stock had a trading volume of 306,940 shares, compared to its average volume of 147,958. FirstService has a one year low of $153.13 and a one year high of $209.66. The company has a market capitalization of $7.08 billion, a P/E ratio of 51.30 and a beta of 0.99. The stock’s fifty day simple moving average is $187.87 and its two-hundred day simple moving average is $183.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.76 and a current ratio of 1.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, hitting the consensus estimate of $1.76. The business had revenue of $1.45 billion for 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 company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. On average, research analysts forecast that FirstService will post 5.27 earnings per share for the current year.

Hedge Funds Weigh In On FirstService

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of FirstService by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider’s stock worth $301,051,000 after acquiring an additional 20,872 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in FirstService by 100.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after purchasing an additional 740,583 shares during the last quarter. Orbis Allan Gray Ltd grew its position in FirstService by 0.5% in the second quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider’s stock worth $248,636,000 after acquiring an additional 6,680 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in FirstService by 2.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider’s stock valued at $111,424,000 after buying an additional 15,334 shares during the period. Finally, Franklin Resources Inc. raised its holdings in FirstService by 8.8% in the 2nd quarter. Franklin Resources Inc. now owns 586,891 shares of the financial services provider’s stock valued at $102,482,000 after buying an additional 47,696 shares during the period. 69.35% of the stock is currently owned by institutional investors.

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.