FirstService Corporation (NASDAQ:FSV) Receives Average Recommendation of “Moderate Buy” from Brokerages

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been given an average recommendation of “Moderate Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $197.2222.

Several analysts have recently commented on the company. TD raised their target price on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Scotiabank decreased their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a research report on Friday, April 24th. Weiss Ratings cut FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. TD Securities set a $204.00 target price on FirstService in a research report on Friday, April 24th. Finally, Stifel Nicolaus decreased their target price on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 27th.

Institutional Trading of FirstService

Several hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in shares of FirstService by 493.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock worth $432,173,000 after buying an additional 2,307,684 shares during the period. Durable Capital Partners LP increased its stake in shares of FirstService by 12.9% in the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock worth $422,263,000 after acquiring an additional 253,155 shares during the last quarter. Orbis Allan Gray Ltd increased its stake in shares of FirstService by 36.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock worth $308,677,000 after acquiring an additional 530,489 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of FirstService by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock worth $304,000,000 after acquiring an additional 29,805 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in shares of FirstService by 15.5% in the fourth quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider’s stock worth $278,247,000 after acquiring an additional 239,941 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $140.68 on Tuesday. FirstService has a one year low of $119.41 and a one year high of $209.66. The stock has a fifty day moving average of $138.59 and a 200-day moving average of $148.44. The company has a market capitalization of $6.47 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 4.27 and a beta of 0.95. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 earnings per share. As a group, equities analysts anticipate that FirstService will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

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