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, compared with the stock’s reported price of $140.81.
• Recent analyst views were mixed: TD raised its target to $207 and maintained a buy rating, while Deutsche Bank and Wall Street Zen maintained or downgraded the stock to hold; CIBC retained an outperform rating with a $175 target.
• FirstService exceeded quarterly EPS estimates, reporting $1.75 versus the $1.71 consensus, while revenue reached $1.44 billion and increased 2.4% year over year. Institutional investors own 69.35% of the company’s shares.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV has been assigned a consensus rating of "Moderate Buy" from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $184.20.

Several research firms recently weighed in on FSV. Weiss Ratings cut shares of FirstService from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $144.00 price objective on shares of FirstService in a research report on Friday, July 24th. Wall Street Zen cut FirstService from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $175.00 target price on shares of FirstService in a research report on Friday, July 24th. Finally, TD upped their price target on FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th.

Institutional Trading of FirstService

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in shares of FirstService in the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider's stock worth $27,000 after buying an additional 81 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of FirstService during the 4th quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its stake in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock worth $35,000 after buying an additional 79 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of FirstService during the first quarter worth approximately $38,000. 69.35% of the stock is owned by institutional investors.

FirstService Trading Up 0.0%

Shares of NASDAQ FSV opened at $140.81 on Friday. FirstService has a 1-year low of $119.41 and a 1-year high of $209.66. The company has a market cap of $6.18 billion, a PE ratio of 39.89, a P/E/G ratio of 3.12 and a beta of 0.93. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $141.86 and a two-hundred day moving average of $143.66.

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, topping analysts' consensus estimates of $1.71 by $0.04. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The company had revenue of $1.44 billion for 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. FirstService's quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts expect that FirstService will post 5.61 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source