FirstService Corporation (NASDAQ:FSV) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• FirstService has a “Moderate Buy” consensus rating from 12 analysts, with eight buys and four holds. The average 12-month price target is $184.20, well above the reported share price of $137.87.
• Institutional investors increased their exposure, including Goldman Sachs, UBS Asset Management, Cetera Investment Advisers and EverSource Wealth Advisors. Hedge funds and other institutions collectively own 69.35% of the company.
• FirstService exceeded quarterly EPS expectations, reporting $1.75 versus the $1.71 consensus estimate, while revenue reached $1.44 billion and grew 2.4% year over year. Analysts expect full-year EPS of $5.61.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV has received an average rating of "Moderate Buy" from the twelve research firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $184.20.

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated an "outperform" rating and issued a $175.00 price objective on shares of FirstService in a report on Friday, July 24th. Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of FirstService in a research note on Wednesday, August 26th. Finally, TD increased their price target on shares of FirstService from $204.00 to $207.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th.

Hedge Funds Weigh In On FirstService

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in shares of FirstService by 79.5% during the first quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider's stock worth $52,880,000 after acquiring an additional 141,152 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in FirstService by 40.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider's stock worth $9,856,000 after purchasing an additional 17,072 shares in the last quarter. Strs Ohio purchased a new stake in FirstService during the 1st quarter worth about $38,000. Cetera Investment Advisers raised its position in FirstService by 55.3% in the 2nd quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 925 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Stock Performance

NASDAQ:FSV opened at $137.87 on Thursday. FirstService has a fifty-two week low of $119.41 and a fifty-two week high of $209.66. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63. The company has a 50 day moving average price of $142.71 and a 200 day moving average price of $141.60. The stock has a market capitalization of $6.02 billion, a P/E ratio of 39.06, a PEG ratio of 3.07 and a beta of 0.93.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that FirstService will post 5.61 EPS for the current year.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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