FirstService Corporation (NASDAQ:FSV) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• FirstService Corporation has received an average rating of "Moderate Buy" from six brokerages, with three analysts advising a hold and three recommending a buy.
• The company's average price target is $217.75, while it recently reported a 9.1% year-over-year revenue increase with earnings of $1.71 per share.
• FirstService has also declared a quarterly dividend of $0.275 per share, reflecting an annual yield of 0.6% and a payout ratio of 35.26%.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV has been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $217.75.

FSV has been the topic of a number of analyst reports. Weiss Ratings restated a "buy (b-)" rating on shares of FirstService in a research note on Wednesday, October 8th. Zacks Research downgraded FirstService from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Scotiabank lifted their price target on FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, TD Securities restated a "hold" rating on shares of FirstService in a research note on Thursday, September 4th.

Hedge Funds Weigh In On FirstService

Several hedge funds and other institutional investors have recently bought and sold shares of FSV. TCTC Holdings LLC raised its holdings in FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after purchasing an additional 104 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 purchasing an additional 79 shares during the last quarter. Strs Ohio acquired a new position in FirstService during the first quarter worth $38,000. EverSource Wealth Advisors LLC raised its holdings in FirstService by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider's stock worth $64,000 after purchasing an additional 292 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of FirstService by 70.6% in the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider's stock worth $83,000 after acquiring an additional 180 shares during the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Trading Up 0.2%

Shares of FSV stock opened at $183.26 on Monday. The business's 50 day moving average is $195.75 and its two-hundred day moving average is $183.59. FirstService has a twelve month low of $153.13 and a twelve month high of $209.66. The company has a market capitalization of $8.36 billion, a P/E ratio of 58.74 and a beta of 0.99. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $1.36 EPS. The company's revenue was up 9.1% on a year-over-year basis. Equities analysts forecast that FirstService will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.10 annualized dividend and a yield of 0.6%. FirstService's payout ratio is currently 35.26%.

About FirstService

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.

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