FirstService (NASDAQ:FSV) Upgraded to "Buy" at Wall Street Zen

Key Points

• FirstService has been upgraded by Wall Street Zen from a "hold" to a "buy" rating, reflecting increased confidence in the stock's potential.
• Scotiabank raised its price target for FirstService from $210.00 to $220.00, while TD Securities increased their target from $200.00 to $211.00, indicating positive sentiment among analysts.
• In its latest earnings report, FirstService reported a quarterly earnings per share of $1.71, exceeding analysts' estimates and showing a 9.1% revenue growth year-over-year.

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

Several other research analysts have also recently commented on FSV. Scotiabank increased their target price on shares of FirstService from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. TD Securities increased their target price on shares of FirstService from $200.00 to $211.00 and gave the stock a "hold" rating in a report on Friday, July 25th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $217.75.

FirstService Stock Down 1.9%

Shares of FirstService stock traded down $4.02 on Friday, hitting $204.41. The company had a trading volume of 71,409 shares, compared to its average volume of 73,363. The firm has a market capitalization of $9.31 billion, a P/E ratio of 65.52 and a beta of 0.96. FirstService has a twelve month low of $153.13 and a twelve 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 stock has a 50-day moving average of $193.91 and a 200-day moving average of $179.85.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.26. The company had revenue of $1.42 billion during 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 quarter in the prior year, the company earned $1.36 earnings per share. Research analysts predict that FirstService will post 5.27 earnings per share for the current year.

Institutional Trading of FirstService

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its position in shares of FirstService by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,092 shares of the financial services provider's stock valued at $1,051,000 after purchasing an additional 52 shares during the period. Harbor Capital Advisors Inc. increased its position in FirstService by 0.6% during the second quarter. Harbor Capital Advisors Inc. now owns 9,547 shares of the financial services provider's stock worth $1,667,000 after acquiring an additional 59 shares during the period. State of Wyoming increased its position in FirstService by 11.1% during the first quarter. State of Wyoming now owns 621 shares of the financial services provider's stock worth $103,000 after acquiring an additional 62 shares during the period. Allianz Asset Management GmbH increased its position in FirstService by 1.3% during the first quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider's stock worth $959,000 after acquiring an additional 76 shares during the period. Finally, Evergreen Capital Management LLC increased its position in FirstService by 5.6% during the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider's stock worth $256,000 after acquiring an additional 77 shares during the period. 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.