FirstService (NASDAQ:FSV) Sets New 52-Week Low – What’s Next?

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) hit a new 52-week low during trading on Thursday . The company traded as low as $147.13 and last traded at $151.05, with a volume of 119554 shares trading hands. The stock had previously closed at $150.72.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Securities restated a “buy” rating and issued a $217.00 price objective on shares of FirstService in a research note on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $211.67.

FirstService Trading Down 0.8%

The stock has a 50-day moving average price of $157.15 and a two-hundred day moving average price of $169.15. 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 stock has a market capitalization of $6.84 billion, a P/E ratio of 47.32, a price-to-earnings-growth ratio of 4.13 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the business posted $1.34 earnings per share. FirstService’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts forecast that FirstService Corporation will post 5.27 EPS for the current fiscal year.

FirstService Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.8%. FirstService’s dividend payout ratio is currently 38.61%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Truist Financial Corp lifted its holdings 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 acquiring an additional 77 shares during the period. Evergreen Capital Management LLC lifted its holdings in FirstService by 5.6% during the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the period. Parr Mcknight Wealth Management Group LLC increased its stake in shares of FirstService by 1.1% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of FirstService by 88.0% during 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 purchasing an additional 81 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.