FirstService (NASDAQ:FSV) Price Target Raised to $225.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target boosted by Raymond James from $215.00 to $225.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

FSV has been the subject of several other research reports. Stifel Nicolaus lifted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a report on Monday, October 21st. TD Securities lifted their price objective on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research note on Thursday, October 17th. Scotiabank increased their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $201.67.

FirstService Stock Performance

NASDAQ FSV opened at $185.64 on Wednesday. The stock has a market cap of $8.40 billion, a PE ratio of 77.35 and a beta of 1.06. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The stock has a fifty day simple moving average of $185.65 and a 200-day simple moving average of $180.30. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.32 billion. FirstService had a net margin of 2.19% and a return on equity of 16.68%. FirstService’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. Equities analysts anticipate that FirstService will post 4.64 earnings per share for the current year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 0.54%. FirstService’s dividend payout ratio (DPR) is 41.67%.

Hedge Funds Weigh In On FirstService

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in FirstService by 158.2% in the fourth quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock valued at $133,000 after acquiring an additional 446 shares in the last quarter. Trust Co. of Vermont acquired a new position in FirstService during the 4th quarter worth approximately $46,000. Canoe Financial LP increased its position in shares of FirstService by 1,451.8% in the 4th quarter. Canoe Financial LP now owns 29,018 shares of the financial services provider’s stock valued at $5,253,000 after purchasing an additional 27,148 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of FirstService in the 4th quarter valued at $453,000. Finally, Argent Capital Management LLC lifted its position in shares of FirstService by 16.0% during the 4th quarter. Argent Capital Management LLC now owns 33,406 shares of the financial services provider’s stock worth $6,047,000 after purchasing an additional 4,611 shares during the last quarter. Hedge funds and other 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.