FirstService (NASDAQ:FSV) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research has downgraded FirstService to a "hold" rating from a previous "strong-buy" rating, while other analysts have mixed opinions on the stock.
• FirstService recently reported quarterly earnings of $1.71 per share, exceeding expectations of $1.45, with revenues of $1.42 billion, reflecting a 9.1% increase year-over-year.
• The stock has a current price target of $217.75, with an average rating of "hold" from analysts, and shares recently opened at $191.05.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. TD Securities reissued a "hold" rating on shares of FirstService in a research report on Thursday, September 4th. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, Scotiabank boosted their price target on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $217.75.

FirstService Trading Down 1.7%

Shares of FSV stock opened at $191.05 on Tuesday. The stock's fifty day moving average is $197.44 and its two-hundred day moving average is $181.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $8.71 billion, a P/E ratio of 61.23 and a beta of 0.96. FirstService has a fifty-two week low of $153.13 and a fifty-two week high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly 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. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS. Research analysts expect that FirstService will post 5.27 earnings per share for the current fiscal year.

Institutional Trading of FirstService

A number of hedge funds and other institutional investors have recently modified their holdings of FSV. TCTC Holdings LLC increased its position in shares of FirstService by 155.2% during the 1st 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. grew its position in FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 79 shares in the last quarter. Strs Ohio acquired a new position in FirstService in the 1st quarter valued at about $38,000. EverSource Wealth Advisors LLC grew 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 acquiring an additional 292 shares in the last quarter. Finally, Spire Wealth Management grew its position in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 186 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Company Profile

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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