FirstService Corp (FSV) Receives Consensus Recommendation of “Hold” from Analysts

FirstService Corp (NASDAQ:FSV) (TSE:FSV) has received an average rating of “Hold” from the nine analysts that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $69.20.

FSV has been the topic of a number of research analyst reports. Zacks Investment Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub downgraded FirstService from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Finally, Royal Bank of Canada boosted their target price on FirstService from $75.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 8th.

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FSV opened at $70.37 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.33. The firm has a market cap of $2,477.58, a price-to-earnings ratio of 34.67 and a beta of 0.47. FirstService has a one year low of $57.17 and a one year high of $74.49.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.03. The company had revenue of $438.10 million for the quarter, compared to the consensus estimate of $416.13 million. FirstService had a return on equity of 29.64% and a net margin of 3.11%. FirstService’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.41 earnings per share. equities analysts anticipate that FirstService will post 2.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Thursday, March 29th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from FirstService’s previous quarterly dividend of $0.12. The ex-dividend date was Wednesday, March 28th. FirstService’s payout ratio is 26.60%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSV. Picton Mahoney Asset Management acquired a new position in shares of FirstService in the fourth quarter worth $36,895,000. Neuberger Berman Group LLC increased its stake in FirstService by 33.9% in the third quarter. Neuberger Berman Group LLC now owns 1,036,806 shares of the financial services provider’s stock valued at $68,139,000 after purchasing an additional 262,481 shares during the last quarter. Mackenzie Financial Corp increased its stake in FirstService by 214.0% in the fourth quarter. Mackenzie Financial Corp now owns 221,049 shares of the financial services provider’s stock valued at $15,456,000 after purchasing an additional 150,660 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in FirstService by 146.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 150,225 shares of the financial services provider’s stock valued at $10,503,000 after purchasing an additional 89,300 shares during the last quarter. Finally, Millennium Management LLC increased its stake in FirstService by 173.5% in the fourth quarter. Millennium Management LLC now owns 75,162 shares of the financial services provider’s stock valued at $5,255,000 after purchasing an additional 47,684 shares during the last quarter. 63.30% of the stock is owned by institutional investors.

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About FirstService

FirstService Corp. engages in the provision of property services. It operates through the FirstService Residential, and FirstService Brands segments. The FirstService Residential segment offers property management services in North America. The FirstService Brands segment covers residential and commercial customers through both franchise systems, and company-owned operations.

Analyst Recommendations for FirstService (NASDAQ:FSV)

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