FirstService (NASDAQ:FSV) Sets New 1-Year High - What's Next?

Key Points

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Scotiabank lifted their target price on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Finally, TD Securities lifted their target price on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, FirstService currently has a consensus rating of "Moderate Buy" and a consensus target price of $217.75.

FirstService Stock Performance

The company has a market capitalization of $9.09 billion, a PE ratio of 63.94 and a beta of 0.95. The business's fifty day moving average is $184.25 and its two-hundred day moving average is $176.40. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data 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. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the previous year, the business earned $1.36 EPS. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts predict that FirstService Corporation will post 5.27 earnings per share for the current year.

Institutional Investors Weigh In On FirstService

A number of large investors have recently added to or reduced their stakes in FSV. Mariner LLC grew its position in FirstService by 20.4% in the 4th quarter. Mariner LLC now owns 2,560 shares of the financial services provider's stock worth $464,000 after purchasing an additional 433 shares during the period. XTX Topco Ltd purchased a new stake in FirstService in the 4th quarter worth $443,000. First Trust Advisors LP purchased a new stake in FirstService in the 4th quarter worth $442,000. Natixis lifted its stake in FirstService by 5,511.1% in the 4th quarter. Natixis now owns 505 shares of the financial services provider's stock worth $91,000 after purchasing an additional 496 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of FirstService by 18.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 83,485 shares of the financial services provider's stock valued at $14,543,000 after buying an additional 13,092 shares in the last quarter. Institutional investors own 69.35% of the company's stock.

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.

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