FirstService (TSE:FSV) Stock Passes Above 200 Day Moving Average Following Insider Selling

Key Points

• FirstService Co. stock passed above its two hundred-day moving average after an insider purchase, with shares last trading at C$283.71.
• TD Securities raised their target price for FirstService from C$211.00 to C$214.00, maintaining a "hold" rating on the stock.
• The company announced a quarterly dividend of $0.275 per share, with a yield of 0.4%, scheduled to be paid on October 7th to investors of record by September 30th.

FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV shares passed above its two hundred day moving average during trading on Wednesday after an insider bought additional shares in the company. The stock has a two hundred day moving average of C$249.36 and traded as high as C$286.18. FirstService shares last traded at C$283.71, with a volume of 102,043 shares trading hands.

Wall Street Analysts Forecast Growth

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

FirstService Trading Down 0.5%

The company has a market capitalization of C$12.92 billion, a price-to-earnings ratio of 90.93, a P/E/G ratio of 107.75 and a beta of 0.95. The company has a quick ratio of 1.25, a current ratio of 1.81 and a debt-to-equity ratio of 136.54. The company's 50 day simple moving average is C$265.28 and its two-hundred day simple moving average is C$249.36.

FirstService Dividend Announcement

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

FirstService Company Profile

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.

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