Brokers Issue Forecasts for FirstService Corp’s Q1 2019 Earnings (FSV)

FirstService Corp (NASDAQ:FSV) (TSE:FSV) – Research analysts at William Blair issued their Q1 2019 earnings estimates for FirstService in a report issued on Wednesday. William Blair analyst S. Sheldon expects that the financial services provider will post earnings of $0.31 per share for the quarter. William Blair has a “Market Perform” rating on the stock. William Blair also issued estimates for FirstService’s Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.99 EPS and Q4 2019 earnings at $0.70 EPS.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. FirstService had a return on equity of 29.64% and a net margin of 3.11%. The company had revenue of $438.10 million during the quarter, compared to analysts’ expectations of $416.13 million. During the same period last year, the business posted $0.41 EPS. FirstService’s revenue for the quarter was up 15.0% on a year-over-year basis.

Several other brokerages have also weighed in on FSV. Scotiabank lowered FirstService from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. Royal Bank of Canada downgraded FirstService from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $71.00 to $75.00 in a research note on Thursday, October 26th. Zacks Investment Research upgraded FirstService from a “hold” rating to a “strong-buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded FirstService from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $69.80.

Shares of FirstService (NASDAQ:FSV) opened at $67.78 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.18 and a quick ratio of 0.95. The stock has a market capitalization of $2,433.37, a PE ratio of 43.45 and a beta of 0.59. FirstService has a 12-month low of $51.50 and a 12-month high of $74.49.

Several hedge funds have recently made changes to their positions in FSV. Highstreet Asset Management Inc. boosted its stake in shares of FirstService by 611.1% in the third quarter. Highstreet Asset Management Inc. now owns 2,553 shares of the financial services provider’s stock valued at $168,000 after buying an additional 2,194 shares in the last quarter. ARP Americas LP purchased a new stake in FirstService during the fourth quarter worth $269,000. State of Wisconsin Investment Board acquired a new position in shares of FirstService in the third quarter worth $308,000. Legal & General Group Plc raised its holdings in shares of FirstService by 40.1% in the third quarter. Legal & General Group Plc now owns 4,887 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 1,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of 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 worth $671,000 after acquiring an additional 3,271 shares during the last quarter. Institutional investors own 61.77% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Thursday, March 29th will be paid a $0.135 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.12. This represents a $0.54 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, March 28th. FirstService’s dividend payout ratio (DPR) is 33.79%.

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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.

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