FirstService (NASDAQ:FSV) Raised to Hold at BidaskClub

BidaskClub upgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a sell rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

Other equities analysts have also issued reports about the company. ValuEngine lowered FirstService from a buy rating to a hold rating in a report on Wednesday, October 2nd. BMO Capital Markets lifted their price objective on FirstService from $98.00 to $99.00 and gave the stock a market perform rating in a research note on Monday, December 16th. Royal Bank of Canada dropped their price objective on FirstService from $110.00 to $106.00 and set a sector perform rating on the stock in a research note on Thursday, October 24th. TD Securities dropped their price objective on FirstService from $110.00 to $105.00 and set a hold rating on the stock in a research note on Friday, October 25th. Finally, Raymond James reiterated a market perform rating and issued a $95.00 price objective on shares of FirstService in a research note on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average target price of $104.60.

NASDAQ FSV opened at $98.72 on Friday. FirstService has a fifty-two week low of $73.24 and a fifty-two week high of $111.08. The stock’s 50-day moving average is $94.12 and its two-hundred day moving average is $97.83. The company has a debt-to-equity ratio of 4.13, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market cap of $3.83 billion, a P/E ratio of 54.84 and a beta of 0.80.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.13. FirstService had a positive return on equity of 26.02% and a negative net margin of 10.98%. The company had revenue of $672.30 million for the quarter, compared to analyst estimates of $672.71 million. During the same period last year, the company earned $0.89 earnings per share. The business’s revenue was up 32.8% compared to the same quarter last year. On average, equities analysts expect that FirstService will post 1.88 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.61%. FirstService’s payout ratio is presently 33.33%.

Institutional investors have recently bought and sold shares of the company. US Bancorp DE grew its position in FirstService by 13.7% during the second quarter. US Bancorp DE now owns 2,197 shares of the financial services provider’s stock worth $211,000 after buying an additional 265 shares in the last quarter. Tower Research Capital LLC TRC grew its position in FirstService by 120.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,649 shares of the financial services provider’s stock worth $272,000 after buying an additional 1,449 shares in the last quarter. Atria Investments LLC acquired a new stake in FirstService during the second quarter worth about $335,000. Citadel Advisors LLC grew its position in FirstService by 9.5% during the second quarter. Citadel Advisors LLC now owns 3,698 shares of the financial services provider’s stock worth $356,000 after buying an additional 320 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in FirstService by 8.3% during the second quarter. Parametric Portfolio Associates LLC now owns 4,259 shares of the financial services provider’s stock worth $409,000 after buying an additional 325 shares in the last quarter. Institutional investors and hedge funds own 60.34% of the company’s stock.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential 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 provides property management 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.

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Analyst Recommendations for FirstService (NASDAQ:FSV)

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