FirstService Corporation (NASDAQ:FSV) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• FirstService has a consensus analyst rating of “Moderate Buy”, with eight buy ratings and three hold ratings from eleven analysts. The average 12-month price target is about $195.89.
• The company recently reported quarterly earnings of $0.95 per share, beating estimates of $0.89, while revenue came in at $1.30 billion, slightly above expectations and up 5.3% year over year.
• FirstService also paid a quarterly dividend of $0.305 per share, which annualizes to $1.22 and yields about 0.9%.

Shares of FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV have received an average rating of "Moderate Buy" from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $195.8889.

A number of research analysts have weighed in on FSV shares. TD increased their target price on FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Weiss Ratings downgraded FirstService from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 29th. Scotiabank reduced their price target on shares of FirstService from $190.00 to $175.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. TD Securities set a $204.00 price objective on shares of FirstService in a research note on Friday, April 24th. Finally, Stifel Nicolaus dropped their price objective on shares of FirstService from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 27th.

Institutional Investors Weigh In On FirstService

Hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in shares of FirstService by 493.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider's stock worth $432,173,000 after purchasing an additional 2,307,684 shares in the last quarter. Wellington Management Group LLP grew its holdings in FirstService by 18,366.1% during the fourth quarter. Wellington Management Group LLP now owns 719,993 shares of the financial services provider's stock valued at $111,981,000 after purchasing an additional 716,094 shares during the period. Janus Henderson Group PLC grew its holdings in FirstService by 73.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,367,564 shares of the financial services provider's stock valued at $212,698,000 after purchasing an additional 579,615 shares during the period. Norges Bank purchased a new stake in FirstService in the fourth quarter worth about $85,597,000. Finally, Orbis Allan Gray Ltd increased its position in FirstService by 36.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider's stock worth $308,677,000 after buying an additional 530,489 shares in the last quarter. Institutional investors own 69.35% of the company's stock.

FirstService Price Performance

Shares of FSV opened at $143.31 on Wednesday. The firm has a fifty day simple moving average of $139.04 and a two-hundred day simple moving average of $145.69. The firm has a market cap of $6.59 billion, a PE ratio of 40.48, a P/E/G ratio of 4.44 and a beta of 0.94. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService has a 1-year low of $119.41 and a 1-year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. FirstService had a return on equity of 17.91% and a net margin of 2.92%.The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $0.92 EPS. The company's revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that FirstService will post 5.57 EPS for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th were given a $0.305 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.22 annualized dividend and a yield of 0.9%. FirstService's dividend payout ratio (DPR) is presently 34.46%.

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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