FirstService Corp. (FSV) Coverage Initiated at RBC Capital Markets
Equities research analysts at RBC Capital Markets began coverage on shares of FirstService Corp. (NASDAQ:FSV) in a research report issued on Tuesday. The firm set an “outperform” rating on the stock.
Several other brokerages have also issued reports on FSV. Zacks Investment Research lowered FirstService Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 2nd. Raymond James Financial Inc. lowered FirstService Corp. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 7th. Finally, Royal Bank Of Canada assumed coverage on FirstService Corp. in a research note on Tuesday. They issued an “outperform” rating and a $56.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $45.67.
Shares of FirstService Corp. (NASDAQ:FSV) traded up 4.79% during midday trading on Tuesday, hitting $48.16. The company had a trading volume of 98,229 shares. FirstService Corp. has a 12-month low of $31.37 and a 12-month high of $53.15. The firm has a market capitalization of $1.73 billion, a P/E ratio of 61.59 and a beta of 0.57. The firm’s 50-day moving average is $49.39 and its 200-day moving average is $45.40.
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FirstService Corp. (NASDAQ:FSV) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. FirstService Corp. had a return on equity of 19.20% and a net margin of 2.09%. The business had revenue of $385.10 million for the quarter, compared to analyst estimates of $386.29 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts predict that FirstService Corp. will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 30th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, September 28th. FirstService Corp.’s dividend payout ratio is currently 56.41%.
Several large investors have recently added to or reduced their stakes in FSV. Sterling Capital Management LLC raised its stake in FirstService Corp. by 1.9% in the second quarter. Sterling Capital Management LLC now owns 8,472 shares of the company’s stock worth $388,000 after buying an additional 159 shares in the last quarter. Toronto Dominion Bank raised its stake in FirstService Corp. by 2.0% in the second quarter. Toronto Dominion Bank now owns 41,236 shares of the company’s stock worth $1,886,000 after buying an additional 806 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new stake in FirstService Corp. during the second quarter worth approximately $227,000. Jacobson & Schmitt Advisors LLC raised its stake in FirstService Corp. by 0.8% in the second quarter. Jacobson & Schmitt Advisors LLC now owns 103,764 shares of the company’s stock worth $4,756,000 after buying an additional 804 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in FirstService Corp. during the second quarter worth approximately $8,952,000. 55.07% of the stock is currently owned by institutional investors.
FirstService Corp. Company Profile
FirstService Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company’s operations are conducted in two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides a range of ancillary services primarily in various areas, including on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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