FirstService (NASDAQ:FSV) Given New $178.00 Price Target at TD Securities

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target lifted by investment analysts at TD Securities from $174.00 to $178.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Securities’ price objective suggests a potential upside of 2.22% from the stock’s current price.

A number of other analysts also recently issued reports on FSV. Scotiabank raised their target price on FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday. Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets lifted their price target on FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $189.33.

FirstService Stock Performance

NASDAQ:FSV traded down $1.49 during trading hours on Monday, reaching $174.14. The stock had a trading volume of 29,003 shares, compared to its average volume of 85,914. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.00 and a current ratio of 1.78. The stock has a 50 day simple moving average of $153.93 and a 200 day simple moving average of $158.29. FirstService has a 12-month low of $134.77 and a 12-month high of $177.46. The stock has a market cap of $7.83 billion, a P/E ratio of 86.49 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.37 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, research analysts forecast that FirstService will post 4.32 EPS for the current fiscal year.

Institutional Investors Weigh In On FirstService

Several large investors have recently added to or reduced their stakes in FSV. Gulf International Bank UK Ltd lifted its stake in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares during the last quarter. Scotia Capital Inc. lifted its stake in FirstService by 0.7% during the fourth quarter. Scotia Capital Inc. now owns 11,049 shares of the financial services provider’s stock worth $1,785,000 after purchasing an additional 81 shares during the last quarter. Signaturefd LLC lifted its stake in FirstService by 20.6% during the fourth quarter. Signaturefd LLC now owns 603 shares of the financial services provider’s stock worth $98,000 after purchasing an additional 103 shares during the last quarter. Fifth Third Bancorp lifted its stake in FirstService by 20.5% during the second quarter. Fifth Third Bancorp now owns 634 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 108 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in FirstService by 40.6% during the second quarter. First Horizon Advisors Inc. now owns 488 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

About FirstService

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.