FirstService (FSV) Stock Rating Lowered by BidaskClub

FirstService (NASDAQ:FSV) (TSE:FSV) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

FSV has been the topic of a number of other reports. Zacks Investment Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 26th. Scotiabank downgraded FirstService from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 26th. Finally, Royal Bank of Canada downgraded FirstService from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $71.00 to $75.00 in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.20.

Shares of FirstService (NASDAQ FSV) traded down $0.13 during trading hours on Friday, hitting $68.01. The stock had a trading volume of 27,264 shares, compared to its average volume of 25,513. The company has a market capitalization of $2,446.29, a P/E ratio of 54.85 and a beta of 0.80. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.95 and a current ratio of 0.95. FirstService has a 1 year low of $47.60 and a 1 year high of $74.49.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. The firm had revenue of $456.50 million for the quarter, compared to the consensus estimate of $449.26 million. FirstService had a return on equity of 24.16% and a net margin of 2.74%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. sell-side analysts expect that FirstService will post 1.93 EPS for the current year.

A number of hedge funds have recently bought and sold shares of FSV. Legal & General Group Plc lifted its holdings in FirstService by 6.0% in the second quarter. Legal & General Group Plc now owns 3,487 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in FirstService by 17.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 324 shares during the period. JPMorgan Chase & Co. lifted its holdings in FirstService by 1,515.7% in the second quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock valued at $3,612,000 after acquiring an additional 73,663 shares during the period. Alliancebernstein L.P. lifted its holdings in FirstService by 6.5% in the second quarter. Alliancebernstein L.P. now owns 21,270 shares of the financial services provider’s stock valued at $1,361,000 after acquiring an additional 1,300 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in FirstService by 45.4% in the second quarter. UBS Asset Management Americas Inc. now owns 10,470 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 3,271 shares during the period. 61.17% of the stock is currently owned by institutional investors.

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About FirstService

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.

Analyst Recommendations for FirstService (NASDAQ:FSV)

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