FirstService (NASDAQ:FSV) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded FirstService from “Buy” to “Hold,” though the broader analyst consensus remains “Moderate Buy,” with a consensus price target of $184.20.
• FirstService reported quarterly EPS of $1.75, exceeding estimates of $1.71, while revenue reached $1.44 billion and increased 2.4% year over year.
• The stock opened at $140.89 after trading down 2.5%; institutional investors own 69.35% of shares, with Goldman Sachs and UBS among firms increasing their positions.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Several other brokerages have also issued reports on FSV. TD Securities reiterated a "buy" rating and issued a $195.00 target price on shares of FirstService in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $144.00 price target on shares of FirstService in a research report on Friday, July 24th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $175.00 price target on shares of FirstService in a research note on Friday, July 24th. TD increased their price objective on FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Finally, Stifel Nicolaus decreased their price objective on FirstService from $215.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, April 27th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $184.20.

FirstService Trading Down 2.5%

Shares of FirstService stock opened at $140.89 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.58 and a quick ratio of 1.66. FirstService has a 1 year low of $119.41 and a 1 year high of $209.66. The firm has a market cap of $6.48 billion, a PE ratio of 39.91, a PEG ratio of 3.20 and a beta of 0.94. The company has a 50 day simple moving average of $140.60 and a two-hundred day simple moving average of $144.92.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.71 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 EPS. Analysts expect that FirstService will post 5.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its position in FirstService by 79.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider's stock valued at $52,880,000 after buying an additional 141,152 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of FirstService by 40.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider's stock valued at $9,856,000 after acquiring an additional 17,072 shares during the period. Strs Ohio purchased a new position in shares of FirstService in the first quarter valued at about $38,000. Cetera Investment Advisers raised its stake in shares of FirstService by 55.3% during the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider's stock valued at $454,000 after acquiring an additional 925 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of FirstService by 400.0% during the second 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 during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

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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