FirstService's (FSV) "Buy (B-)" Rating Reaffirmed at Weiss Ratings

Key Points

• FirstService's stock has been reaffirmed with a "buy (B-)" rating by Weiss Ratings, amidst mixed reviews from other analysts including a downgrade from Zacks Research to a "hold".
• The current market capitalization of FirstService is $8.44 billion, with shares trading at around $185.04, reflecting a 12-month high of $209.66 and low of $153.13.
• In its latest quarterly earnings report, FirstService reported an earnings per share (EPS) of $1.71, exceeding expectations and achieving a 9.1% revenue increase year-over-year.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV's stock had its "buy (b-)" rating reissued by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other equities analysts have also weighed in on the stock. Zacks Research lowered shares of FirstService from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. TD Securities reaffirmed a "hold" rating on shares of FirstService in a research report on Thursday, September 4th. Finally, Scotiabank raised their price target on shares of FirstService from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $217.75.

FirstService Stock Performance

Shares of FSV opened at $185.04 on Wednesday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $8.44 billion, a P/E ratio of 59.31 and a beta of 0.99. The firm's fifty day simple moving average is $197.59 and its two-hundred day simple moving average is $182.69. FirstService has a 12 month low of $153.13 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $1.71 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.26. FirstService had a net margin of 2.61% and a return on equity of 18.24%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business's quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that FirstService will post 5.27 EPS for the current year.

Institutional Investors Weigh In On FirstService

Large investors have recently modified their holdings of the stock. Fiera Capital Corp increased its stake in shares of FirstService by 3.9% during the 1st quarter. Fiera Capital Corp now owns 268,935 shares of the financial services provider's stock worth $44,639,000 after purchasing an additional 10,087 shares during the last quarter. TD Asset Management Inc increased its stake in shares of FirstService by 61.6% during the 1st quarter. TD Asset Management Inc now owns 335,542 shares of the financial services provider's stock worth $55,637,000 after purchasing an additional 127,846 shares during the last quarter. Summit Creek Advisors LLC boosted its holdings in FirstService by 8.4% in the 1st quarter. Summit Creek Advisors LLC now owns 115,245 shares of the financial services provider's stock worth $19,125,000 after buying an additional 8,961 shares during the period. Baskin Financial Services Inc. boosted its holdings in FirstService by 0.6% in the 1st quarter. Baskin Financial Services Inc. now owns 251,850 shares of the financial services provider's stock worth $41,757,000 after buying an additional 1,588 shares during the period. Finally, Spire Wealth Management boosted its holdings in FirstService by 52.1% in the 1st quarter. Spire Wealth Management now owns 543 shares of the financial services provider's stock worth $90,000 after buying an additional 186 shares during the period. Hedge funds and other institutional investors own 69.35% of the company's stock.

FirstService Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.