FirstService Corp (NASDAQ:FSV) Given Average Rating of “Hold” by Brokerages

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Shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) have been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $103.25.

A number of research firms have recently commented on FSV. Zacks Investment Research downgraded FirstService from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. BidaskClub downgraded FirstService from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Royal Bank of Canada increased their price target on FirstService from $94.00 to $102.00 and gave the company a “sector perform” rating in a report on Monday, May 27th. Raymond James set a $85.00 price target on FirstService and gave the company a “market perform” rating in a report on Friday, May 24th. Finally, BMO Capital Markets increased their price target on FirstService to $106.00 in a report on Friday, May 24th.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bbva Compass Bancshares Inc. purchased a new position in FirstService in the 1st quarter valued at about $238,000. Shell Asset Management Co. boosted its position in FirstService by 5.3% in the 1st quarter. Shell Asset Management Co. now owns 2,692 shares of the financial services provider’s stock valued at $240,000 after buying an additional 135 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in FirstService by 84.2% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 5,449 shares of the financial services provider’s stock valued at $487,000 after buying an additional 2,491 shares during the last quarter. Legal & General Group Plc boosted its position in FirstService by 28.6% in the 4th quarter. Legal & General Group Plc now owns 8,520 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,893 shares during the last quarter. Finally, Raymond James & Associates boosted its position in FirstService by 167.8% in the 4th quarter. Raymond James & Associates now owns 12,386 shares of the financial services provider’s stock valued at $850,000 after buying an additional 7,761 shares during the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Shares of FSV stock traded down $0.82 on Tuesday, reaching $97.58. 19,312 shares of the stock were exchanged, compared to its average volume of 27,983. The stock has a market cap of $3.53 billion, a PE ratio of 54.21 and a beta of 0.84. The company has a current ratio of 1.42, a quick ratio of 1.45 and a debt-to-equity ratio of 1.00. The stock’s 50 day moving average price is $94.04. FirstService has a 1-year low of $64.87 and a 1-year high of $100.86.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The firm had revenue of $485.70 million for the quarter, compared to analyst estimates of $468.98 million. FirstService had a return on equity of 23.44% and a net margin of 3.12%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.25 earnings per share. As a group, equities analysts forecast that FirstService will post 1.91 EPS for the current fiscal year.

The business also recently declared a special dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were issued a $0.15 dividend. This is an increase from FirstService’s previous special dividend of $0.08. The ex-dividend date of this dividend was Thursday, June 27th. FirstService’s dividend payout ratio is currently 33.33%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.

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