Scotiabank Issues Pessimistic Forecast for FirstService (NASDAQ:FSV) Stock Price

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective dropped by equities researchers at Scotiabank from $190.00 to $175.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective indicates a potential upside of 25.21% from the stock’s current price.

Several other analysts also recently commented on FSV. Loop Capital assumed coverage on FirstService in a research note on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. TD upped their price target on FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. TD Securities set a $204.00 price target on FirstService in a report on Friday, April 24th. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus reduced their price objective on FirstService from $215.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, April 27th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $195.56.

FirstService Stock Down 1.6%

NASDAQ FSV traded down $2.22 on Tuesday, hitting $139.76. 13,998 shares of the company were exchanged, compared to its average volume of 223,877. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The company has a market cap of $6.42 billion, a PE ratio of 39.50, a PEG ratio of 4.28 and a beta of 0.95. The stock has a fifty day moving average of $137.49 and a 200-day moving average of $146.80. FirstService has a 12 month low of $119.41 and a 12 month high of $209.66.

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. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that FirstService will post 5.54 earnings per share for the current year.

Institutional Investors Weigh In On FirstService

Institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its position in FirstService by 32.8% in the 1st quarter. Glenmede Trust Co. NA now owns 5,585 shares of the financial services provider’s stock valued at $776,000 after buying an additional 1,378 shares during the last quarter. Summitry LLC boosted its holdings in FirstService by 44.9% during the 1st quarter. Summitry LLC now owns 2,670 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 827 shares during the last quarter. Argent Capital Management LLC grew its stake in shares of 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 acquiring an additional 17,377 shares in the last quarter. Turtle Creek Asset Management Inc. bought a new stake in shares of FirstService in the 1st quarter worth $1,723,000. Finally, Bank of America Corp DE raised its holdings 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 during the last quarter. Institutional investors 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.