FirstService Corporation (NASDAQ:FSV) Receives $211.83 Consensus Target Price from Analysts

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $211.8333.

FSV has been the subject of several analyst reports. Wall Street Zen cut shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. CIBC lowered their target price on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Scotiabank raised FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $220.00 to $205.00 in a report on Friday, October 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of FirstService in a report on Thursday. Finally, Raymond James Financial lowered their price objective on FirstService from $225.00 to $215.00 and set an “outperform” rating for the company in a research report on Monday, October 27th.

Institutional Trading of FirstService

Several institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp boosted its holdings in shares of FirstService by 100.8% in the 2nd quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after buying an additional 740,583 shares in the last quarter. Norges Bank purchased a new stake in FirstService in the second quarter valued at $93,904,000. Picton Mahoney Asset Management acquired a new position in FirstService in the second quarter valued at $56,029,000. Durable Capital Partners LP grew its holdings in shares of FirstService by 12.9% during the third quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock worth $422,263,000 after purchasing an additional 253,155 shares during the last quarter. Finally, Orbis Allan Gray Ltd grew its holdings in shares of FirstService by 18.8% during the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after purchasing an additional 224,125 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Price Performance

Shares of NASDAQ FSV opened at $156.13 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 51.70 and a beta of 0.99. The stock’s 50-day moving average is $180.54 and its two-hundred day moving average is $182.68. FirstService has a 1-year low of $149.13 and a 1-year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, hitting analysts’ consensus estimates of $1.76. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast that FirstService will post 5.27 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 30th. FirstService’s dividend payout ratio is 36.42%.

About FirstService

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.