Shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) have been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $101.00.
Several research analysts have weighed in on the company. Raymond James upped their price target on FirstService from $85.00 to $95.00 and gave the stock a “market perform” rating in a research note on Thursday, May 30th. Zacks Investment Research lowered FirstService from a “hold” rating to a “sell” rating in a report on Friday, May 31st. BMO Capital Markets increased their price target on FirstService to $106.00 in a report on Friday, May 24th. BidaskClub lowered FirstService from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada increased their price target on FirstService from $94.00 to $102.00 and gave the company a “sector perform” rating in a report on Monday, May 27th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. raised its stake in FirstService by 50.9% during the 1st quarter. Advisor Group Inc. now owns 1,485 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 501 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in FirstService by 14.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,163 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 268 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in FirstService in the first quarter worth $238,000. Shell Asset Management Co. boosted its holdings in FirstService by 5.3% during the first quarter. Shell Asset Management Co. now owns 2,692 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 135 shares during the period. Finally, National Asset Management Inc. boosted its holdings in FirstService by 42.8% during the fourth quarter. National Asset Management Inc. now owns 3,885 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 1,164 shares during the period. 66.83% of the stock is owned by institutional investors and hedge funds.
FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.01). The business had revenue of $485.70 million for the quarter, compared to analysts’ expectations of $468.98 million. FirstService had a net margin of 3.12% and a return on equity of 23.44%. FirstService’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. As a group, research analysts predict that FirstService will post 1.81 earnings per share for the current year.
The business also recently disclosed a special dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 28th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, June 27th. This is an increase from FirstService’s previous special dividend of $0.08. FirstService’s dividend payout ratio (DPR) is presently 33.33%.
FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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.
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