FirstService (NASDAQ:FSV) Stock Rating Lowered by Wall Street Zen

Key Points

• FirstService has been downgraded by Wall Street Zen from a "buy" to a "hold" rating, with several other analysts also adjusting their ratings and price targets.
• The stock is currently trading at around $164.64, which is near the lower end of its 12-month range, with a high of $209.66.
• FirstService reported earnings per share of $1.76 for the last quarter, matching analysts' estimates while revenue saw a year-over-year increase of 3.7% despite falling short of projections.

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

FSV has been the topic of a number of other research reports. BMO Capital Markets set a $209.00 price objective on FirstService and gave the stock an "outperform" rating in a report on Friday. CIBC dropped their price objective on FirstService from $225.00 to $216.00 and set an "outperform" rating on the stock in a report on Friday. Zacks Research lowered FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of FirstService in a report on Wednesday, October 8th. Finally, TD Securities set a $213.00 price objective on FirstService in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, FirstService has an average rating of "Moderate Buy" and a consensus target price of $213.60.

FirstService Price Performance

FirstService stock opened at $164.64 on Friday. FirstService has a 12 month low of $153.13 and a 12 month high of $209.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.76 and a quick ratio of 1.76. The business has a 50 day simple moving average of $193.67 and a 200-day simple moving average of $183.84. The stock has a market capitalization of $7.51 billion, a PE ratio of 54.52 and a beta of 0.99.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share for the quarter, hitting analysts' consensus estimates of $1.76. FirstService had a return on equity of 18.44% and a net margin of 2.53%.The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. FirstService's quarterly revenue was up 3.7% on a year-over-year basis. Equities analysts predict that FirstService will post 5.27 earnings per share for the current year.

Institutional Trading of FirstService

Several large investors have recently bought and sold shares of FSV. Spire Wealth Management boosted its stake in shares of FirstService by 300.0% during the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider's stock valued at $76,000 after acquiring an additional 300 shares during the last quarter. Signaturefd LLC boosted its stake in shares of FirstService by 7.3% during the third quarter. Signaturefd LLC now owns 1,480 shares of the financial services provider's stock valued at $282,000 after acquiring an additional 101 shares during the last quarter. Fenimore Asset Management Inc boosted its stake in shares of FirstService by 44.1% during the third quarter. Fenimore Asset Management Inc now owns 144,633 shares of the financial services provider's stock valued at $27,551,000 after acquiring an additional 44,272 shares during the last quarter. Canoe Financial LP boosted its stake in shares of FirstService by 7.9% during the third quarter. Canoe Financial LP now owns 30,316 shares of the financial services provider's stock valued at $5,775,000 after acquiring an additional 2,230 shares during the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of FirstService by 70.6% during the third quarter. Trust Co. of Vermont now owns 435 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds 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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