FirstService Corp. (FSV) Earns Outperform Rating from Analysts at RBC Capital Markets
Research analysts at RBC Capital Markets began coverage on shares of FirstService Corp. (NASDAQ:FSV) in a research report issued on Tuesday. The brokerage set an “outperform” rating on the stock.
A number of other brokerages have also commented on FSV. Royal Bank Of Canada started coverage on shares of FirstService Corp. in a research report on Tuesday. They set an “outperform” rating and a $56.00 price objective for the company. Zacks Investment Research lowered shares of FirstService Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Raymond James Financial Inc. lowered shares of FirstService Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $45.67.
FirstService Corp. (NASDAQ:FSV) opened at 45.96 on Tuesday. The stock’s 50 day moving average price is $49.39 and its 200 day moving average price is $45.40. The firm has a market capitalization of $1.65 billion, a P/E ratio of 58.77 and a beta of 0.57. FirstService Corp. has a 12 month low of $31.37 and a 12 month high of $53.15.
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FirstService Corp. (NASDAQ:FSV) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. FirstService Corp. had a net margin of 2.09% and a return on equity of 19.20%. The company earned $385.10 million during the quarter, compared to analysts’ expectations of $386.29 million. During the same period in the prior year, the company earned $0.40 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that FirstService Corp. will post $1.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, September 28th. FirstService Corp.’s dividend payout ratio (DPR) is presently 56.41%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baskin Financial Services Inc. raised its position in FirstService Corp. by 189.8% in the second quarter. Baskin Financial Services Inc. now owns 100,435 shares of the company’s stock valued at $4,556,000 after buying an additional 65,780 shares during the period. Emerald Acquisition Ltd. acquired a new position in FirstService Corp. during the second quarter valued at about $3,793,000. Swiss National Bank raised its position in FirstService Corp. by 2.7% in the second quarter. Swiss National Bank now owns 57,200 shares of the company’s stock valued at $2,603,000 after buying an additional 1,500 shares during the period. Bank of Montreal Can acquired a new position in FirstService Corp. during the second quarter valued at about $25,502,000. Finally, CIBC World Markets Inc. raised its position in FirstService Corp. by 72.4% in the second quarter. CIBC World Markets Inc. now owns 331,535 shares of the company’s stock valued at $15,194,000 after buying an additional 139,234 shares during the period. 55.07% of the stock is owned by hedge funds and other 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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