FirstService (NASDAQ:FSV) Sets New 12-Month High - Still a Buy?

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Shares of FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $201.11 and last traded at $201.38, with a volume of 7192 shares changing hands. The stock had previously closed at $198.06.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FSV shares. Wall Street Zen raised shares of FirstService from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Scotiabank raised their price objective on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, TD Securities raised their price objective on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $217.75.

FirstService Trading Up 1.2%

The business's 50-day moving average price is $185.92 and its two-hundred day moving average price is $176.98. The company has a market capitalization of $9.10 billion, a P/E ratio of 64.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76.

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, topping analysts' consensus estimates of $1.45 by $0.26. The company 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 business's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. As a group, analysts forecast that FirstService Corporation will post 5.27 EPS for the current fiscal year.

Institutional Investors Weigh In On FirstService

Institutional investors have recently added to or reduced their stakes in the stock. TCTC Holdings LLC lifted its position in FirstService by 155.2% in the 1st quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 104 shares in the last quarter. Geneos Wealth Management Inc. lifted 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 bought a new stake in FirstService in the 1st quarter valued at $38,000. EverSource Wealth Advisors LLC lifted 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 lifted 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.

About FirstService

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.