FirstService Corporation (NASDAQ:FSV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $211.6667.

Several research firms recently commented on FSV. BMO Capital Markets restated an “outperform” rating and issued a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th. TD Securities reiterated a “buy” rating and issued a $217.00 price objective on shares of FirstService in a research note on Thursday, February 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a report on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th.

FirstService Stock Performance

NASDAQ:FSV opened at $140.83 on Thursday. The stock has a 50 day simple moving average of $155.20 and a 200 day simple moving average of $165.32. The stock has a market cap of $6.44 billion, a P/E ratio of 44.57, a PEG ratio of 3.83 and a beta of 1.05. FirstService has a 1-year low of $139.60 and a 1-year high of $209.66. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted $1.34 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts anticipate that FirstService will post 5.27 earnings per share for the current year.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be given a dividend of $0.305 per share. This is an increase from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s dividend payout ratio (DPR) is currently 34.81%.

Hedge Funds Weigh In On FirstService

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSV. Truist Financial Corp boosted its stake in FirstService by 0.9% in the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock valued at $1,383,000 after buying an additional 77 shares in the last quarter. Evergreen Capital Management LLC raised its stake in FirstService by 5.6% during the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 77 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares during the last quarter. Parr Mcknight Wealth Management Group LLC boosted its stake in shares of FirstService by 1.1% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock valued at $1,444,000 after purchasing an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.