FirstService (NASDAQ:FSV) Price Target Cut to $201.00 by Analysts at TD Cowen

Key Points

• TD Cowen cut FSV’s price target to $201 (from $217) but maintained a "buy" rating, implying roughly a 34% upside from the stock’s prior close.
• Analyst consensus is a "Moderate Buy" — seven analysts rate Buy and two rate Hold, with an average target of $207.86.
• Shares trade around $149.91, well below the 52‑week high of $209.66; the company recently beat quarterly EPS and revenue estimates but trades at a high valuation (P/E ~47.3).

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its price objective lowered by investment analysts at TD Cowen from $217.00 to $201.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. TD Cowen's price objective would indicate a potential upside of 34.08% from the stock's previous close.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated an "outperform" rating and set a $202.00 target price on shares of FirstService in a research report on Thursday, February 5th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. TD Securities restated a "buy" rating and set a $201.00 price target on shares of FirstService in a report on Tuesday. Finally, Weiss Ratings restated a "hold (c)" rating on shares of FirstService in a report on Friday, March 27th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstService currently has a consensus rating of "Moderate Buy" and an average target price of $207.86.

FirstService Price Performance

Shares of NASDAQ:FSV traded up $1.21 during trading on Tuesday, hitting $149.91. 10,725 shares of the company's stock were exchanged, compared to its average volume of 206,356. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73. FirstService has a 52-week low of $133.42 and a 52-week high of $209.66. The business's 50-day simple moving average is $148.28 and its 200 day simple moving average is $157.33. The company has a market cap of $6.89 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 3.91 and a beta of 1.09.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the business posted $1.34 earnings per share. The firm's revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that FirstService will post 5.27 EPS for the current year.

Institutional Investors Weigh In On FirstService

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of FirstService by 73.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider's stock worth $47,000 after buying an additional 128 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of FirstService by 796.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 825 shares of the financial services provider's stock worth $128,000 after acquiring an additional 733 shares in the last quarter. GFI Investment Counsel Ltd. raised its position in shares of FirstService by 6.9% in the 4th quarter. GFI Investment Counsel Ltd. now owns 13,421 shares of the financial services provider's stock worth $2,088,000 after acquiring an additional 862 shares in the last quarter. Invesco Ltd. raised its position in shares of FirstService by 0.5% in the 4th quarter. Invesco Ltd. now owns 43,051 shares of the financial services provider's stock worth $6,696,000 after acquiring an additional 219 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of FirstService by 31.0% in the 4th quarter. Alberta Investment Management Corp now owns 27,500 shares of the financial services provider's stock worth $4,277,000 after acquiring an additional 6,500 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

About FirstService

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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