FirstService Corporation (NASDAQ:FSV) Receives $196.89 Consensus Target Price from Brokerages

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $197.2222.

A number of research analysts have recently weighed in on FSV shares. TD Securities set a $204.00 target price on shares of FirstService in a research report on Friday, April 24th. TD Cowen reiterated a “buy” rating and issued a $204.00 price objective on shares of FirstService in a research note on Wednesday, June 3rd. TD increased their price objective on FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a report on Friday, April 24th. Stifel Nicolaus reduced their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a report on Monday, April 27th. Finally, Scotiabank lowered their target price on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 24th.

FirstService Trading Down 1.6%

NASDAQ FSV opened at $138.40 on Tuesday. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 39.10, a PEG ratio of 4.27 and a beta of 0.95. FirstService has a one year low of $119.41 and a one year high of $209.66. 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 business’s fifty day moving average is $138.60 and its 200-day moving average is $148.33.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. Equities research analysts predict that FirstService will post 5.54 EPS for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be issued a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s dividend payout ratio (DPR) is 34.46%.

Institutional Investors Weigh In On FirstService

Several institutional investors have recently added to or reduced their stakes in FSV. Glenmede Trust Co. NA increased its stake in shares of FirstService by 32.8% in the first quarter. Glenmede Trust Co. NA now owns 5,585 shares of the financial services provider’s stock worth $776,000 after purchasing an additional 1,378 shares in the last quarter. Summitry LLC boosted its holdings in FirstService by 44.9% in the 1st quarter. Summitry LLC now owns 2,670 shares of the financial services provider’s stock worth $371,000 after buying an additional 827 shares during the period. Argent Capital Management LLC boosted its holdings in FirstService by 52.0% in the 1st quarter. Argent Capital Management LLC now owns 50,787 shares of the financial services provider’s stock worth $7,056,000 after buying an additional 17,377 shares during the period. Turtle Creek Asset Management Inc. purchased a new position in FirstService in the 1st quarter valued at approximately $1,723,000. Finally, Bank of America Corp DE grew its position in shares of FirstService by 8.2% in the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock valued at $33,390,000 after purchasing an additional 18,146 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.