FirstService’s (FSV) Buy Rating Reaffirmed at TD Cowen

TD Cowen reiterated their buy rating on shares of FirstService (NASDAQ:FSV) (TSE:FSV) in a report published on Wednesday,Benzinga reports. They currently have a $204.00 price objective on the financial services provider’s stock.

Several other brokerages have also commented on FSV. Scotiabank decreased their price target on FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 24th. Stifel Nicolaus decreased their price target on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. BMO Capital Markets reissued an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a research note on Thursday, February 5th. Weiss Ratings lowered FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, TD Securities set a $204.00 price objective on FirstService in a research note on Friday, April 24th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $197.22.

FirstService Price Performance

Shares of FSV stock opened at $137.27 on Wednesday. The stock’s fifty day simple moving average is $138.46 and its 200 day simple moving average is $148.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 38.78, a P/E/G ratio of 4.20 and a beta of 0.95. FirstService has a one year low of $119.41 and a one year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. FirstService had a return on equity of 17.91% and a net margin of 2.92%.FirstService’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. On average, analysts expect that FirstService will post 5.54 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be paid a $0.305 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService’s payout ratio is currently 34.46%.

Hedge Funds Weigh In On FirstService

Institutional investors and hedge funds have recently bought and sold shares of the business. JPL Wealth Management LLC acquired a new position in FirstService in the third quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its position in shares of FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of FirstService during the fourth quarter worth $34,000. Finally, Strs Ohio bought a new stake in shares of FirstService during the first quarter worth $38,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.