FirstService Corporation (NASDAQ:FSV) Stock Has Average Price Target of $184.20 According to Analysts

Key Points

• Analysts maintain a moderately bullish outlook on FirstService, with eight buy ratings and three holds among 11 analysts. The average 12-month price target is $184.20, well above the stock’s reported $129.13 opening price.
• FirstService exceeded quarterly earnings expectations, reporting $1.75 in EPS versus the $1.71 consensus. Revenue reached $1.44 billion, up 2.4% year over year, while analysts project full-year EPS of $5.61.
• The company declared a quarterly dividend of $0.305 per share, equivalent to $1.22 annually and a 0.9% yield. Institutional investors and hedge funds own 69.35% of the outstanding shares.

Shares of FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV have been assigned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $184.20.

FSV has been the topic of a number of recent research reports. Scotiabank set a $170.00 price objective on FirstService in a research note on Friday, July 24th. BMO Capital Markets cut their target price on FirstService from $199.00 to $192.00 and set an "outperform" rating for the company in a research note on Friday, July 24th. Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. TD lifted their price target on FirstService from $204.00 to $207.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, TD Securities reissued a "buy" rating and set a $195.00 price target on shares of FirstService in a research report on Friday, July 24th.

FirstService Stock Performance

Shares of FirstService stock opened at $129.13 on Monday. The stock has a market cap of $5.64 billion, a P/E ratio of 36.58, a P/E/G ratio of 2.86 and a beta of 0.95. The stock's 50 day simple moving average is $138.43 and its 200-day simple moving average is $139.26. FirstService has a 1-year low of $119.41 and a 1-year high of $190.10. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last posted its quarterly 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 business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $1.71 earnings per share. The business's revenue was up 2.4% compared to the same quarter last year. Analysts predict that FirstService will post 5.61 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.3050 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService's payout ratio is 34.56%.

Hedge Funds Weigh In On FirstService

Several institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in shares of FirstService by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider's stock valued at $220,560,000 after buying an additional 219,890 shares during the period. Conestoga Capital Advisors LLC increased its stake in FirstService by 19.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider's stock worth $195,289,000 after acquiring an additional 233,043 shares during the last quarter. Geode Capital Management LLC increased its stake in FirstService by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 529,854 shares of the financial services provider's stock worth $87,275,000 after acquiring an additional 43,695 shares during the last quarter. Royal Bank of Canada raised its position in FirstService by 15.7% in the first quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider's stock valued at $79,672,000 after purchasing an additional 77,758 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of FirstService by 3.0% in the 4th quarter. Fred Alger Management LLC now owns 444,706 shares of the financial services provider's stock valued at $69,165,000 after purchasing an additional 13,047 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Company Profile

FirstService Corporation is a North American property services company headquartered in Toronto, Canada. The company provides services to residential and commercial properties through two primary business segments: FirstService Residential and FirstService Brands.

FirstService Residential provides property management and related services for condominium, cooperative, homeowners' association and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support and project management.

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