FirstService Corp. (NASDAQ:FSV) Given Average Rating of “Hold” by Analysts
FirstService Corp. (NASDAQ:FSV) has earned an average rating of “Hold” from the seven analysts that are covering the stock. Five equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $44.00.
Several research firms have weighed in on FSV. Zacks Investment Research raised shares of FirstService Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, September 28th. RBC Capital Markets began coverage on shares of FirstService Corp. in a research note on Tuesday, September 20th. They issued an “outperform” rating for the company. Finally, Royal Bank Of Canada began coverage on shares of FirstService Corp. in a research note on Tuesday, September 20th. They issued an “outperform” rating and a $56.00 price target for the company.
Shares of FirstService Corp. (NASDAQ:FSV) traded up 1.59% during mid-day trading on Monday, hitting $45.34. The stock had a trading volume of 717 shares. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 57.98 and a beta of 0.59. The stock’s 50-day moving average is $47.56 and its 200 day moving average is $45.97. FirstService Corp. has a 1-year low of $31.56 and a 1-year high of $53.15.
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FirstService Corp. (NASDAQ:FSV) last announced its earnings results on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the 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 analyst estimates of $386.29 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that FirstService Corp. will post $1.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Wednesday, September 28th. FirstService Corp.’s dividend payout ratio (DPR) is 56.41%.
Institutional investors have recently modified their holdings of the stock. CIBC World Markets Inc. increased its position in shares of 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. BB&T Securities LLC increased its position in shares of FirstService Corp. by 2.4% in the second quarter. BB&T Securities LLC now owns 13,719 shares of the company’s stock valued at $628,000 after buying an additional 322 shares during the period. Renaissance Technologies LLC increased its position in shares of FirstService Corp. by 10.4% in the first quarter. Renaissance Technologies LLC now owns 552,138 shares of the company’s stock valued at $22,606,000 after buying an additional 51,917 shares during the period. TD Asset Management Inc. increased its position in shares of FirstService Corp. by 27.0% in the second quarter. TD Asset Management Inc. now owns 192,456 shares of the company’s stock valued at $8,757,000 after buying an additional 40,931 shares during the period. Finally, Swiss National Bank increased its position in shares of 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. 55.07% of the stock is owned by hedge funds and other institutional investors.
About FirstService Corp.
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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