FirstService (TSE:FSV) Share Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Shares of FirstService Co. (TSE:FSV) have crossed above the 200-day moving average, trading at C$277.80, with a peak of C$283.31.
• TD Securities has upgraded its price target for FirstService from C$211.00 to C$214.00, maintaining a "hold" rating for the stock.
• FirstService recently declared a quarterly dividend of $0.275 per share, representing a yield of 0.4% and an annualized payout of $1.10.

FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$250.53 and traded as high as C$283.31. FirstService shares last traded at C$277.80, with a volume of 78,789 shares changing hands.

Analysts Set New Price Targets

Separately, TD Securities increased their price target on FirstService from C$211.00 to C$214.00 and gave the company a "hold" rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of C$214.00.

FirstService Stock Up 0.1%

The stock has a fifty day moving average of C$270.65 and a 200 day moving average of C$250.68. The firm has a market capitalization of C$12.67 billion, a P/E ratio of 89.12, a price-to-earnings-growth ratio of 107.75 and a beta of 0.95. The company has a debt-to-equity ratio of 136.54, a current ratio of 1.81 and a quick ratio of 1.25.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.4%. FirstService's payout ratio is presently 33.65%.

Insider Buying and Selling at FirstService

In other FirstService news, Senior Officer Jeremy Alan Rakusin sold 2,800 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of C$273.24, for a total value of C$765,072.00. Also, Director Erin Joy Wallace sold 3,000 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of C$275.74, for a total value of C$827,214.00. Following the completion of the sale, the director owned 10,000 shares in the company, valued at approximately C$2,757,380. The trade was a 23.08% decrease in their ownership of the stock. Over the last 90 days, insiders sold 8,800 shares of company stock worth $2,316,805. Corporate insiders own 10.26% of the company's stock.

About FirstService

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company's revenue.