FirstService Corporation (NASDAQ:FSV) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $184.20.

FSV has been the subject of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of FirstService in a research report on Wednesday, August 26th. Scotiabank set a $170.00 price objective on FirstService in a report on Friday, July 24th. 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. TD lifted their target price on shares of FirstService from $204.00 to $207.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, TD Securities reaffirmed a “buy” rating and issued a $195.00 price target on shares of FirstService in a research report on Friday, July 24th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FSV. Fenimore Asset Management Inc grew its position in FirstService by 6.9% during the third quarter. Fenimore Asset Management Inc now owns 130,824 shares of the financial services provider’s stock worth $16,730,000 after buying an additional 8,426 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in FirstService during the second quarter valued at about $220,000. Nykredit A S acquired a new position in FirstService in the 2nd quarter valued at approximately $1,585,000. Corient Private Wealth LP acquired a new position in FirstService in the 2nd quarter valued at approximately $885,000. Finally, TD Waterhouse Canada Inc. raised its holdings in FirstService by 13.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 66,437 shares of the financial services provider’s stock valued at $9,519,000 after acquiring an additional 8,084 shares in the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Stock Performance

Shares of NASDAQ FSV opened at $129.73 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.03. FirstService has a 12 month low of $119.41 and a 12 month high of $189.05. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 2.87 and a beta of 0.95. The business has a fifty day simple moving average of $137.05 and a 200-day simple moving average of $138.89.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share 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 firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the business posted $1.71 EPS. FirstService’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that FirstService will post 5.61 EPS for the current year.

FirstService Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.3050 per share. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 30th. FirstService’s dividend payout ratio is 34.56%.

About FirstService

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners’ association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.