FirstService (NASDAQ:FSV) Hits New 1-Year High – Should You Buy?

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $201.85 and last traded at $202.15, with a volume of 13765 shares. The stock had previously closed at $200.25.

Analyst Ratings Changes

A number of analysts have recently commented on FSV shares. TD Securities boosted their price target on FirstService from $200.00 to $211.00 and gave the company a “hold” rating in a report on Friday, July 25th. Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Scotiabank boosted their price objective on shares of FirstService from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.75.

FirstService Stock Up 0.7%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The firm’s 50 day moving average is $186.37 and its two-hundred day moving average is $177.21. The firm has a market capitalization of $9.18 billion, a P/E ratio of 64.62 and a beta of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.36 EPS. FirstService’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts predict that FirstService Corporation will post 5.27 EPS for the current year.

Hedge Funds Weigh In On FirstService

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its holdings in shares of FirstService by 100.8% in the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after purchasing an additional 740,583 shares during the last quarter. Norges Bank acquired a new position in FirstService in the 2nd quarter valued at about $93,904,000. Picton Mahoney Asset Management acquired a new position in FirstService in the 2nd quarter valued at $56,029,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of FirstService by 53.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 656,097 shares of the financial services provider’s stock worth $118,767,000 after buying an additional 229,889 shares in the last quarter. Finally, Orbis Allan Gray Ltd boosted its position in shares of FirstService by 18.8% in the first quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock valued at $235,183,000 after acquiring an additional 224,125 shares during the period. 69.35% of the stock is owned by institutional investors.

FirstService Company Profile

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.