FirstService (NASDAQ:FSV) Price Target Cut to $145.00

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) had its target price reduced by TD Securities from $170.00 to $145.00 in a research report report published on Friday morning, BayStreet.CA reports. They currently have a hold rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of FirstService from a b- rating to a c rating in a report on Wednesday, February 16th. Zacks Investment Research cut shares of FirstService from a buy rating to a hold rating in a research report on Monday, February 21st. StockNews.com cut shares of FirstService from a buy rating to a hold rating in a research report on Saturday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FirstService in a research report on Tuesday, March 29th. They issued a hold rating and a $143.00 price objective on the stock. Finally, Raymond James cut their price objective on shares of FirstService from $200.00 to $175.00 and set an outperform rating on the stock in a research report on Thursday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $174.17.

Shares of FSV stock opened at $124.89 on Friday. FirstService has a 12-month low of $121.51 and a 12-month high of $202.78. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of 43.36 and a beta of 0.97. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average of $138.48 and a 200-day moving average of $166.84.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last announced its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.02. FirstService had a net margin of 3.78% and a return on equity of 16.68%. During the same period last year, the business posted $0.50 earnings per share. Research analysts expect that FirstService will post 2.99 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Thursday, March 31st were given a dividend of $0.2025 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This is a boost from FirstService’s previous quarterly dividend of $0.18. This represents a $0.81 annualized dividend and a yield of 0.65%. FirstService’s payout ratio is 28.13%.

A number of large investors have recently modified their holdings of FSV. The Manufacturers Life Insurance Company lifted its position in FirstService by 24.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,149,802 shares of the financial services provider’s stock worth $492,304,000 after buying an additional 421,424 shares in the last quarter. Norges Bank acquired a new position in shares of FirstService during the 4th quarter worth about $77,626,000. The Manufacturers Life Insurance Company increased its stake in shares of FirstService by 13.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,447,932 shares of the financial services provider’s stock worth $478,021,000 after purchasing an additional 298,130 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of FirstService by 486.9% during the 3rd quarter. Bank of Nova Scotia now owns 311,050 shares of the financial services provider’s stock worth $56,227,000 after purchasing an additional 258,049 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of FirstService by 46.3% during the 3rd quarter. Royal Bank of Canada now owns 573,333 shares of the financial services provider’s stock worth $103,475,000 after purchasing an additional 181,397 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Company Profile (Get Rating)

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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers 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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Analyst Recommendations for FirstService (NASDAQ:FSV)

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