FirstService Corporation (NASDAQ:FSV) (TSE:FSV) announced that its board has authorized a share repurchase program, which allows the company to repurchase 3,100,000 outstanding shares on Thursday, August 17th, EventVestor reports. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

FirstService Corporation (NASDAQ:FSV) traded down 0.30% during trading on Friday, hitting $63.46. The stock had a trading volume of 6,583 shares. The firm has a 50 day moving average of $64.01 and a 200-day moving average of $60.53. FirstService Corporation has a one year low of $39.05 and a one year high of $67.41. The company has a market cap of $2.28 billion, a P/E ratio of 50.77 and a beta of 0.91.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million for the quarter, compared to the consensus estimate of $421.35 million. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Equities analysts anticipate that FirstService Corporation will post $1.96 earnings per share for the current fiscal year.

A number of research firms have weighed in on FSV. Raymond James Financial, Inc. increased their target price on FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. BidaskClub raised FirstService Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada increased their price target on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. TheStreet raised FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research raised FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 price target on the stock in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. FirstService Corporation currently has a consensus rating of “Buy” and an average price target of $67.00.

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About FirstService Corporation

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of 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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