Raymond James Financial Cuts FirstService (TSE:FSV) Price Target to C$190.00

Key Points

• Raymond James Financial cut its price target on FirstService from C$215.00 to C$190.00, while keeping an outperform rating on the stock.
• Despite the cut, analyst sentiment remains positive overall: FirstService has a consensus Buy rating and an average price target of C$200.67. TD also recently raised its target from C$204.00 to C$207.00 and reiterated a buy rating.
• FirstService shares rose to C$195.83 in Friday trading after its latest earnings report, which showed C$2.49 EPS and C$2.06 billion in revenue for the quarter.

FirstService (TSE:FSV - Get Free Report) NASDAQ: FSV had its price objective cut by investment analysts at Raymond James Financial from C$215.00 to C$190.00 in a report released on Friday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price indicates a potential downside of 2.98% from the company's current price.

Separately, TD upped their price target on FirstService from C$204.00 to C$207.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of C$200.67.

FirstService Price Performance

FSV traded up C$11.33 during midday trading on Friday, reaching C$195.83. 78,047 shares of the company's stock were exchanged, compared to its average volume of 132,214. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 95.68. The business has a 50-day simple moving average of C$195.25 and a two-hundred day simple moving average of C$201.03. The firm has a market capitalization of C$9.00 billion, a price-to-earnings ratio of 55.16, a price-to-earnings-growth ratio of 107.75 and a beta of 0.79. FirstService has a one year low of C$169.60 and a one year high of C$290.34.

FirstService (TSE:FSV - Get Free Report) NASDAQ: FSV last issued its earnings results on Thursday, July 23rd. The company reported C$2.49 earnings per share (EPS) for the quarter. FirstService had a return on equity of 12.11% and a net margin of 2.93%.The business had revenue of C$2.06 billion during the quarter. As a group, research analysts predict that FirstService will post 7.5161189 EPS for the current year.

Insider Transactions at FirstService

In other FirstService news, insider Firstservice Corporation acquired 2,500 shares of FirstService stock in a transaction on Thursday, April 30th. The shares were bought at an average price of C$181.90 per share, with a total value of C$454,750.00. Following the completion of the purchase, the insider owned 16,872 shares in the company, valued at C$3,069,016.80. This trade represents a 17.39% increase in their ownership of the stock. In the last ninety days, insiders acquired 7,872 shares of company stock valued at $1,431,216. Insiders own 10.26% of the company's stock.

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. FirstService Brands provides property services to residential and commercial customers through the following brands: California Closets; Paul Davis Restoration; CertPro Painters; Pillar to Post; Floor Coverings International; College Pro Painters; and Service America.

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