TD Cuts FirstService (TSE:FSV) Price Target to C$195.00

Key Points

• TD lowered its price target on FirstService from C$207.00 to C$195.00, while keeping a buy rating on the stock. The new target implies only a slight downside from the previous close.
• Other analysts also trimmed expectations: Raymond James cut its target from C$215.00 to C$190.00 and maintained an outperform rating. Overall, FirstService still carries a consensus Buy rating with an average target of C$200.67.
• FirstService shares rose on the day to C$195.83 after trading up C$11.33, near both its 50-day moving average and the revised analyst targets. The company recently reported quarterly EPS of C$2.49 on revenue of C$2.06 billion.

FirstService (TSE:FSV - Get Free Report) NASDAQ: FSV had its price objective cut by analysts at TD from C$207.00 to C$195.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD's price target would indicate a potential downside of 0.42% from the stock's previous close.

Separately, Raymond James Financial dropped their price objective on shares of FirstService from C$215.00 to C$190.00 and set an "outperform" rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of C$200.67.

FirstService Price Performance

FSV traded up C$11.33 on Friday, reaching C$195.83. The company had a trading volume of 78,047 shares, compared to its average volume of 132,214. FirstService has a 52-week low of C$169.60 and a 52-week high of C$290.34. The company has a market cap of C$9.00 billion, a price-to-earnings ratio of 55.16, a P/E/G ratio of 107.75 and a beta of 0.79. The company has a debt-to-equity ratio of 95.68, a quick ratio of 1.25 and a current ratio of 1.26. The business has a 50 day simple moving average of C$195.25 and a 200 day simple moving average of C$201.03.

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

Insider Activity at FirstService

In other FirstService news, insider Firstservice Corporation purchased 2,500 shares of the firm's stock in a transaction on Thursday, April 30th. The shares were purchased at an average cost 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 of the company's stock, valued at C$3,069,016.80. The trade was a 17.39% increase in their position. Insiders have purchased 7,872 shares of company stock worth $1,431,216 over the last quarter. Company 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. 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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