FirstService (NASDAQ:FSV) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded FirstService from "buy" to "hold while the wider analyst community still leans positive—seven Buy ratings versus two Holds—yielding an average analyst rating of Moderate Buy and an average price target of $207.86.
• Shares trade around $152.26 with a $7.0B market cap and a P/E of 48.2; the company recently beat quarterly estimates with $1.37 EPS on $1.38B revenue (revenue up 1.3% year-over-year).

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

Several other analysts have also weighed in on the company. BMO Capital Markets reissued an "outperform" rating and issued a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. TD Cowen lowered their target price on FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday. TD Securities lowered their target price on FirstService from $217.00 to $201.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $207.86.

FirstService Stock Up 2.1%

Shares of FirstService stock opened at $152.26 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.79. The firm has a market cap of $7.00 billion, a P/E ratio of 48.18, a P/E/G ratio of 4.00 and a beta of 1.09. FirstService has a fifty-two week low of $133.42 and a fifty-two week high of $209.66. The business has a 50-day moving average price of $147.49 and a 200 day moving average price of $156.67.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. FirstService had a return on equity of 18.69% and a net margin of 2.64%.FirstService's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.34 earnings per share. On average, sell-side analysts forecast that FirstService will post 5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. JPL Wealth Management LLC bought a new position in shares of FirstService during the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its stake in FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in FirstService during the fourth quarter worth approximately $34,000. Geneos Wealth Management Inc. boosted 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 buying an additional 79 shares in the last quarter. Finally, Strs Ohio bought a new stake in FirstService during the first quarter worth approximately $38,000. 69.35% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.