FirstService (NASDAQ:FSV) Price Target Lowered to $201.00 at TD Cowen

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective trimmed by TD Cowen from $217.00 to $201.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on FSV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of FirstService in a report on Friday, March 27th. TD Securities lowered their target price on FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. Finally, Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, FirstService currently has a consensus rating of “Moderate Buy” and an average price target of $207.86.

FirstService Price Performance

Shares of FSV opened at $149.15 on Tuesday. FirstService has a 12-month low of $133.42 and a 12-month high of $209.66. The business has a 50-day simple moving average of $148.17 and a two-hundred day simple moving average of $157.04. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.79. The stock has a market cap of $6.86 billion, a PE ratio of 47.20, a PEG ratio of 3.99 and a beta of 1.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that FirstService will post 5.27 earnings per share for the current fiscal year.

FirstService Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st were paid a $0.305 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s payout ratio is currently 38.61%.

Institutional Investors Weigh In On FirstService

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPL Wealth Management LLC acquired a new stake in shares of FirstService in the third quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of FirstService by 88.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after buying an additional 81 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of FirstService in the fourth quarter valued at about $34,000. Geneos Wealth Management Inc. increased its stake 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 valued at $35,000 after buying an additional 79 shares during the period. Finally, Strs Ohio acquired a new stake in shares of FirstService in the first quarter valued at about $38,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.