FirstService (FSV) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

FSV has been the topic of several other research reports. Royal Bank of Canada upped their price target on shares of FirstService from $80.00 to $88.00 and gave the stock a sector perform rating in a report on Thursday, July 26th. ValuEngine raised shares of FirstService from a hold rating to a buy rating in a report on Wednesday, July 25th. Raymond James upped their price target on shares of FirstService from $72.00 to $83.00 and gave the stock a market weight rating in a report on Friday, July 27th. BMO Capital Markets reaffirmed a hold rating and issued a $83.00 price target on shares of FirstService in a report on Wednesday, October 24th. Finally, Zacks Investment Research raised shares of FirstService from a sell rating to a hold rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $82.75.

FSV stock traded down $0.76 during midday trading on Thursday, reaching $74.50. 16,954 shares of the company’s stock traded hands, compared to its average volume of 30,376. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.44 and a quick ratio of 1.44. FirstService has a 52 week low of $62.90 and a 52 week high of $90.21. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 36.70 and a beta of 0.76.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Wednesday, October 24th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). FirstService had a net margin of 3.71% and a return on equity of 36.30%. The business had revenue of $506.36 million for the quarter, compared to the consensus estimate of $505.25 million. During the same period in the previous year, the firm earned $0.73 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that FirstService will post 1.87 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Finance LLC purchased a new stake in FirstService during the third quarter valued at about $207,000. National Asset Management Inc. purchased a new stake in FirstService during the third quarter valued at about $231,000. Steward Partners Investment Advisory LLC purchased a new stake in FirstService during the third quarter valued at about $354,000. Oppenheimer Asset Management Inc. purchased a new stake in FirstService during the second quarter valued at about $329,000. Finally, Raymond James & Associates purchased a new stake in FirstService during the second quarter valued at about $350,000. Institutional investors and hedge funds own 63.53% of the company’s stock.

About FirstService

FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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