FirstService Corporation (NASDAQ:FSV) Receives Average Rating of “Moderate Buy” from Brokerages

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $184.20.

A number of research firms recently issued reports on FSV. Stifel Nicolaus lowered their target price on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. BMO Capital Markets reduced their price target on shares of FirstService from $199.00 to $192.00 and set an “outperform” rating for the company in a report on Friday, July 24th. Loop Capital initiated coverage on shares of FirstService in a research report on Monday, May 4th. They set a “hold” rating and a $140.00 price objective for the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $175.00 price objective on shares of FirstService in a research report on Friday, July 24th. Finally, Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, August 1st.

FirstService Stock Down 2.1%

NASDAQ:FSV opened at $143.45 on Friday. FirstService has a 1 year low of $119.41 and a 1 year high of $209.66. The stock has a 50-day moving average price of $141.97 and a two-hundred day moving average price of $143.15. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 3.24 and a beta of 0.93. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter last year, the firm posted $1.71 earnings per share. FirstService’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that FirstService will post 5.61 earnings per share for the current year.

Institutional Trading of FirstService

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock worth $52,880,000 after buying an additional 141,152 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in FirstService by 40.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after buying an additional 17,072 shares during the last quarter. Strs Ohio bought a new stake in FirstService in the 1st quarter valued at approximately $38,000. Cetera Investment Advisers lifted its stake in FirstService by 55.3% in the 2nd quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 925 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.