FirstService (NASDAQ:FSV) Stock Rating Upgraded by TD Securities

Key Points

• TD Securities upgraded FirstService (NASDAQ:FSV) from a "hold" rating to a "buy" rating, indicating increased confidence in the stock.
• Despite the upgrade, shares of FirstService have recently dropped by 9.8% to $166.73, with a current consensus target price of $213.67.
• The company reported earnings of $1.71 per share, surpassing analysts' expectations, and demonstrated a revenue growth of 9.1% year-over-year.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV was upgraded by investment analysts at TD Securities from a "hold" rating to a "buy" rating in a research report issued on Friday,Finviz reports.

A number of other brokerages have also weighed in on FSV. Zacks Research lowered shares of FirstService from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of FirstService in a report on Wednesday, October 8th. Wall Street Zen upgraded FirstService from a "hold" rating to a "buy" rating in a research report on Sunday, September 7th. Finally, Scotiabank lifted their target price on FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.67.

FirstService Stock Down 9.8%

Shares of FSV opened at $166.73 on Friday. The business's 50 day moving average is $194.34 and its 200 day moving average is $183.80. 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 has a 12-month low of $153.13 and a 12-month high of $209.66. The company has a market capitalization of $7.60 billion, a PE ratio of 53.44 and a beta 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.26. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The company's revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. Research analysts expect that FirstService will post 5.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSV. TCTC Holdings LLC increased its stake in FirstService by 155.2% during the first quarter. TCTC Holdings LLC now owns 171 shares of the financial services provider's stock worth $28,000 after acquiring an additional 104 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock worth $35,000 after purchasing an additional 79 shares during the period. Strs Ohio purchased a new position in shares of FirstService in the 1st quarter worth approximately $38,000. EverSource Wealth Advisors LLC increased its position in shares of FirstService by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 292 shares during the last quarter. Finally, Spire Wealth Management raised its holdings in FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider's stock valued at $76,000 after buying an additional 300 shares during the period. Hedge funds and other 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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