Brokerages Set FirstService Corporation (NASDAQ:FSV) Target Price at $195.89

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has received an average rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $184.20.

FSV has been the subject of several analyst reports. Scotiabank set a $170.00 price target on FirstService in a report on Friday. Loop Capital began coverage on FirstService in a report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective on the stock. Stifel Nicolaus lowered their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $175.00 target price on shares of FirstService in a research note on Friday. Finally, BMO Capital Markets reduced their target price on FirstService from $199.00 to $192.00 and set an “outperform” rating on the stock in a research report on Friday.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $137.46 on Wednesday. The company has a 50-day simple moving average of $139.47 and a 200-day simple moving average of $145.39. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The company has a market cap of $6.32 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 3.96 and a beta of 0.94. FirstService has a 12 month low of $119.41 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.04. FirstService had a net margin of 2.88% and a return on equity of 17.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the prior year, the firm posted $1.71 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that FirstService will post 5.57 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. FirstService’s dividend payout ratio is presently 34.56%.

Institutional Investors Weigh In On FirstService

Institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in FirstService by 493.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider’s stock worth $432,173,000 after purchasing an additional 2,307,684 shares during the period. Durable Capital Partners LP boosted its holdings in shares of FirstService by 12.9% in the 3rd quarter. Durable Capital Partners LP now owns 2,216,720 shares of the financial services provider’s stock valued at $422,263,000 after purchasing an additional 253,155 shares during the last quarter. Orbis Allan Gray Ltd grew its stake in shares of FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider’s stock valued at $308,677,000 after buying an additional 530,489 shares during the period. Vanguard Group Inc. increased its holdings in shares of FirstService by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 1,954,819 shares of the financial services provider’s stock worth $304,000,000 after buying an additional 29,805 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in shares of FirstService by 15.5% during the 4th quarter. Mackenzie Financial Corp now owns 1,791,116 shares of the financial services provider’s stock worth $278,247,000 after buying an additional 239,941 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

FirstService Company Profile

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.