FirstService (NASDAQ:FSV) Receives New Coverage from Analysts at Scotiabank

Equities researchers at Scotiabank initiated coverage on shares of FirstService (NASDAQ:FSV) (TSE:FSV) in a report released on Thursday, Marketbeat Ratings reports. The brokerage set a “sector perform” rating and a $170.00 price target on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 10.26% from the stock’s previous close.

A number of other equities research analysts have also recently commented on FSV. BMO Capital Markets lowered their price objective on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of FirstService in a research note on Wednesday, February 7th. StockNews.com cut shares of FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Raymond James raised their price target on shares of FirstService from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, TheStreet cut shares of FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $177.86.

FirstService Price Performance

Shares of NASDAQ FSV opened at $154.18 on Thursday. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 68.83 and a beta of 0.97. FirstService has a 52 week low of $134.77 and a 52 week high of $171.94. The company’s 50-day moving average price is $164.41 and its 200 day moving average price is $157.86. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.15.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.04). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. FirstService had a net margin of 2.32% and a return on equity of 17.56%. As a group, research analysts forecast that FirstService will post 4.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstService

A number of institutional investors have recently bought and sold shares of the stock. Gulf International Bank UK Ltd grew its holdings in FirstService by 25.9% in the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 75 shares during the period. Accent Capital Management LLC purchased a new stake in FirstService in the fourth quarter valued at approximately $40,000. Goldman Sachs Group Inc. grew its holdings in FirstService by 245.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after purchasing an additional 240,303 shares during the period. Virtu Financial LLC purchased a new stake in FirstService in the fourth quarter valued at approximately $269,000. Finally, Townsquare Capital LLC grew its holdings in FirstService by 13.0% in the fourth quarter. Townsquare Capital LLC now owns 5,241 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 603 shares during the period. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Company Profile

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. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers 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.