FirstService (NASDAQ:FSV) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

FirstService Corporation (NASDAQ:FSV) (TSE:FSV)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $137.63 and traded as low as $137.12. FirstService shares last traded at $140.85, with a volume of 285,014 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on FSV shares. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. TD Securities set a $204.00 price objective on shares of FirstService in a research report on Friday, April 24th. Loop Capital began coverage on FirstService in a research report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. Scotiabank dropped 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. Finally, TD Cowen reiterated a “buy” rating and issued a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.22.

FirstService Stock Performance

The firm has a market cap of $6.47 billion, a P/E ratio of 39.79, a PEG ratio of 4.13 and a beta of 0.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. The company’s 50-day moving average is $137.63 and its two-hundred day moving average is $146.90.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion during 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%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. As a group, equities analysts predict that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.305 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService’s dividend payout ratio is 34.46%.

Institutional Investors Weigh In On FirstService

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp purchased a new stake in shares of FirstService during the 4th quarter valued at approximately $6,120,000. Captrust Financial Advisors grew its stake in FirstService by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock valued at $47,228,000 after buying an additional 7,136 shares in the last quarter. UBS Group AG grew its stake in FirstService by 40.5% in the 4th quarter. UBS Group AG now owns 174,467 shares of the financial services provider’s stock valued at $27,135,000 after buying an additional 50,263 shares in the last quarter. Copeland Capital Management LLC raised its holdings in FirstService by 3.3% during the 4th quarter. Copeland Capital Management LLC now owns 346,042 shares of the financial services provider’s stock valued at $53,820,000 after acquiring an additional 10,970 shares during the period. Finally, Louisbourg Investments Inc. bought a new stake in FirstService during the 4th quarter valued at $3,837,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.