Wall Street Zen Downgrades FirstService (NASDAQ:FSV) to Hold

FirstService (NASDAQ:FSV) (TSE:FSV) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on FSV. Weiss Ratings reiterated a “hold (c)” rating on shares of FirstService in a research report on Friday, March 27th. BMO Capital Markets restated an “outperform” rating and issued a $202.00 target price on shares of FirstService in a research report on Thursday, February 5th. TD Securities reduced their target price on FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, TD Cowen reduced their target price on FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $207.86.

FirstService Stock Performance

Shares of FirstService stock opened at $152.26 on Friday. FirstService has a one year low of $133.42 and a one year high of $209.66. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 48.18, a PEG ratio of 4.08 and a beta of 1.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.73 and a current ratio of 1.73. The business’s 50 day moving average price is $147.49 and its 200 day moving average price is $156.21.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 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 firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $1.34 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. On average, research analysts predict that FirstService will post 5.27 EPS for the current year.

Institutional Investors Weigh In On FirstService

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp raised its position 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 purchasing an additional 77 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after buying an additional 77 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of FirstService by 63.7% in the 2nd 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. Parr Mcknight Wealth Management Group LLC raised its holdings 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 buying an additional 81 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of FirstService by 88.0% in 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 buying an additional 81 shares during the period. Hedge funds and other institutional investors 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.