FirstService (NASDAQ:FSV) Price Target Raised to $179.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective increased by TD Securities from $178.00 to $179.00 in a report released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms also recently issued reports on FSV. BMO Capital Markets boosted their price objective on shares of FirstService from $193.00 to $196.00 and gave the stock an outperform rating in a report on Friday, June 7th. Scotiabank lifted their price objective on FirstService from $175.00 to $190.00 and gave the company a sector perform rating in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their target price on FirstService from $187.00 to $192.00 and gave the stock an outperform rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $189.50.

FirstService Price Performance

Shares of FirstService stock opened at $182.07 on Wednesday. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 90.13 and a beta of 1.05. The firm has a fifty day simple moving average of $171.47 and a 200-day simple moving average of $160.75. FirstService has a 1-year low of $134.77 and a 1-year high of $182.29. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23.

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, beating analysts’ consensus estimates of $1.26 by $0.10. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. On average, sell-side analysts expect that FirstService will post 4.32 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 30th. FirstService’s dividend payout ratio (DPR) is 49.51%.

Institutional Trading of FirstService

Several institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management bought a new stake in shares of FirstService during the fourth quarter worth $40,000. BNP Paribas Financial Markets boosted its holdings in shares of FirstService by 240.9% in the 4th quarter. BNP Paribas Financial Markets now owns 7,773 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 5,493 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in FirstService by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 158,577 shares of the financial services provider’s stock worth $25,704,000 after buying an additional 2,106 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in FirstService by 2.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 71,535 shares of the financial services provider’s stock worth $11,645,000 after acquiring an additional 2,049 shares in the last quarter. Finally, Norges Bank acquired a new stake in FirstService in the fourth quarter valued at $82,488,000. Institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

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.