Brokerages Set FirstService Corporation (NASDAQ:FSV) Price Target at $208.40

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has received an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $208.40.

A number of brokerages recently issued reports on FSV. TD Securities raised their price objective on FirstService from $198.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Thursday, March 27th. Finally, Scotiabank dropped their target price on FirstService from $217.50 to $210.00 and set a “sector perform” rating for the company in a research report on Thursday, April 17th.

Hedge Funds Weigh In On FirstService

Several institutional investors have recently bought and sold shares of the company. TCTC Holdings LLC grew its position in shares of FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider’s stock worth $28,000 after buying an additional 104 shares in the last quarter. Strs Ohio acquired a new position in shares of FirstService during the first quarter worth about $38,000. Spire Wealth Management grew its position in shares of FirstService by 52.1% during the first quarter. Spire Wealth Management now owns 543 shares of the financial services provider’s stock worth $90,000 after buying an additional 186 shares in the last quarter. SVB Wealth LLC acquired a new position in shares of FirstService during the first quarter worth about $90,000. Finally, Natixis grew its position in shares of FirstService by 5,511.1% during the fourth quarter. Natixis now owns 505 shares of the financial services provider’s stock worth $91,000 after buying an additional 496 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Stock Up 0.3%

NASDAQ FSV opened at $172.92 on Friday. FirstService has a 52 week low of $150.53 and a 52 week high of $197.84. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.09. The business’s fifty day simple moving average is $174.86 and its 200-day simple moving average is $175.07. The firm has a market cap of $7.86 billion, a PE ratio of 59.83 and a beta of 1.01.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.67 EPS. As a group, equities analysts anticipate that FirstService will post 5.27 earnings per share for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 30th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend is Monday, June 30th. FirstService’s dividend payout ratio is currently 38.06%.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.