TD Forecasts Strong Price Appreciation for FirstService (NASDAQ:FSV) Stock

Key Points

• TD raised its price target on FirstService from $201 to $204 and kept a "buy" rating, implying about a 38.8% upside from the current share price.
• Analyst sentiment is a Moderate Buy with eight Buy and two Hold ratings and a consensus price target of roughly $205.88, aligning with TD's view.
• FSV traded near $146.97 after reporting quarterly EPS of $1.37 (beating estimates), and major institutions significantly increased positions—leaving institutional ownership at about 69.35%.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its price target lifted by TD from $201.00 to $204.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the financial services provider's stock. TD's price target points to a potential upside of 38.80% from the stock's current price.

Several other analysts have also commented on the company. Scotiabank dropped their price objective on FirstService from $205.00 to $190.00 and set a "sector outperform" rating on the stock in a report on Friday. TD Securities set a $204.00 price target on FirstService in a research note on Friday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of FirstService in a research note on Friday, March 27th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered FirstService from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, FirstService has an average rating of "Moderate Buy" and a consensus price target of $205.88.

FirstService Stock Performance

FSV stock traded down $2.19 during trading on Friday, hitting $146.97. 104,944 shares of the company traded hands, compared to its average volume of 207,184. The stock's 50-day simple moving average is $146.72 and its 200 day simple moving average is $155.56. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market cap of $6.76 billion, a PE ratio of 46.58, a P/E/G ratio of 4.01 and a beta of 1.09. FirstService has a 1 year low of $133.42 and a 1 year high of $209.66.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the business earned $1.34 earnings per share. FirstService's quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that FirstService will post 5.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstService

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company increased its stake in FirstService by 493.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,775,353 shares of the financial services provider's stock valued at $432,173,000 after buying an additional 2,307,684 shares during the last quarter. Wellington Management Group LLP increased its stake in FirstService by 18,366.1% in the 4th quarter. Wellington Management Group LLP now owns 719,993 shares of the financial services provider's stock valued at $111,981,000 after buying an additional 716,094 shares during the last quarter. Janus Henderson Group PLC increased its stake in FirstService by 73.6% in the 4th quarter. Janus Henderson Group PLC now owns 1,367,564 shares of the financial services provider's stock valued at $212,698,000 after buying an additional 579,615 shares during the last quarter. Norges Bank purchased a new stake in shares of FirstService during the 4th quarter worth approximately $85,597,000. Finally, Orbis Allan Gray Ltd increased its stake in shares of FirstService by 36.5% during the 4th quarter. Orbis Allan Gray Ltd now owns 1,984,677 shares of the financial services provider's stock worth $308,677,000 after purchasing an additional 530,489 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.

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