FirstService (NASDAQ:FSV) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “FirstService Corporation offers property services to commercial, institutional and residential customers primarily in North America and internationally. Its operating segment consists of Commercial Real Estate Services, Residential Real Estate Services and Property Services. FirstService Corporation is headquartered in Toronto, Canada. “

A number of other brokerages have also commented on FSV. TD Securities cut their price objective on shares of FirstService from $170.00 to $145.00 and set a hold rating on the stock in a research report on Friday, April 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FirstService in a report on Tuesday, March 29th. They set a hold rating and a $143.00 target price on the stock. Raymond James lowered their target price on shares of FirstService from $200.00 to $175.00 and set an outperform rating on the stock in a report on Thursday, April 28th. StockNews.com downgraded shares of FirstService from a buy rating to a hold rating in a report on Saturday, April 2nd. Finally, TheStreet downgraded shares of FirstService from a b- rating to a c rating in a report on Wednesday, February 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, FirstService has a consensus rating of Hold and a consensus target price of $174.17.

Shares of FSV stock opened at $124.42 on Wednesday. The company’s fifty day simple moving average is $137.50 and its 200-day simple moving average is $165.42. The company has a quick ratio of 1.46, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. The firm has a market cap of $5.50 billion, a PE ratio of 43.20 and a beta of 1.02. FirstService has a 12 month low of $119.81 and a 12 month high of $202.78.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last announced its quarterly earnings data on Wednesday, April 27th. The financial services provider reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.02. FirstService had a net margin of 3.78% and a return on equity of 16.37%. During the same period last year, the firm earned $0.50 EPS. On average, equities analysts predict that FirstService will post 2.92 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of FirstService by 13.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,447,932 shares of the financial services provider’s stock valued at $478,021,000 after purchasing an additional 298,130 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of FirstService by 24.4% in the third quarter. The Manufacturers Life Insurance Company now owns 2,149,802 shares of the financial services provider’s stock valued at $492,304,000 after purchasing an additional 421,424 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in shares of FirstService by 5.4% in the first quarter. Conestoga Capital Advisors LLC now owns 1,315,167 shares of the financial services provider’s stock valued at $190,541,000 after acquiring an additional 66,824 shares in the last quarter. Royal Bank of Canada grew its stake in shares of FirstService by 46.3% in the third quarter. Royal Bank of Canada now owns 573,333 shares of the financial services provider’s stock valued at $103,475,000 after acquiring an additional 181,397 shares in the last quarter. Finally, CIBC World Markets Inc. grew its stake in shares of FirstService by 1.1% in the fourth quarter. CIBC World Markets Inc. now owns 515,285 shares of the financial services provider’s stock valued at $101,238,000 after acquiring an additional 5,616 shares in the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

About FirstService (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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