FirstService (NASDAQ:FSV) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

FirstService (NASDAQ:FSV) (TSE:FSV) released its quarterly earnings results on Wednesday. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01), reports. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. FirstService had a return on equity of 16.58% and a net margin of 2.02%.

FirstService Trading Down 2.0 %

Shares of FSV stock opened at $151.62 on Friday. The business’s fifty day moving average price is $162.19 and its 200 day moving average price is $158.35. FirstService has a 1-year low of $134.77 and a 1-year high of $171.94. The firm has a market capitalization of $6.82 billion, a PE ratio of 75.06 and a beta of 0.97. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.82 and a quick ratio of 1.82.

FirstService Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, March 27th. This is a positive change from FirstService’s previous quarterly dividend of $0.23. FirstService’s dividend payout ratio is currently 49.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FSV. Benjamin F. Edwards & Company Inc. acquired a new position in FirstService during the fourth quarter worth $39,000. Spire Wealth Management purchased a new stake in FirstService during the fourth quarter worth $40,000. Accent Capital Management LLC purchased a new stake in FirstService during the fourth quarter worth $40,000. Exchange Traded Concepts LLC boosted its position in FirstService by 126.6% during the third quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 219 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

Wall Street Analysts Forecast Growth

FSV has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $187.00 price target on shares of FirstService in a research report on Wednesday, February 7th. BMO Capital Markets cut their price target on FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Scotiabank initiated coverage on FirstService in a research report on Thursday, April 11th. They set a “sector perform” rating and a $170.00 price target on the stock. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, TheStreet lowered FirstService from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.86.

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.