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

Key Points

• TD Securities has raised its price target for FirstService (NASDAQ:FSV) from $200.00 to $211.00, suggesting potential upside of 5.92% based on the recent closing price.
• FirstService reported earnings of $1.71 per share for the last quarter, exceeding analysts' estimates and reflecting a 9.1% year-over-year revenue growth.
• The stock currently has a consensus rating of "Moderate Buy" with three analysts rating it as a hold and three as a buy.
• Institutional investors hold 69.35% of FirstService's stock, with notable increases in holdings from firms like Vanguard Group Inc. and Orbis Allan Gray Ltd.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV had its price objective raised by analysts at TD Securities from $200.00 to $211.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the financial services provider's stock. TD Securities' target price indicates a potential upside of 5.92% from the company's previous close.

FSV has been the topic of a number of other reports. Wall Street Zen downgraded FirstService from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Scotiabank decreased their price target on shares of FirstService from $217.50 to $210.00 and set a "sector perform" rating for the company in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.60.

FirstService Price Performance

Shares of FSV traded up $5.21 during trading hours on Friday, hitting $199.21. 117,976 shares of the company were exchanged, compared to its average volume of 137,305. The company has a market capitalization of $9.05 billion, a PE ratio of 69.02 and a beta of 0.99. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.94 and a quick ratio of 1.94. The firm has a fifty day simple moving average of $176.70 and a 200-day simple moving average of $174.57. FirstService has a one year low of $153.13 and a one year high of $199.98.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last released its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.45 by $0.26. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. FirstService had a return on equity of 17.49% and a net margin of 2.46%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. As a group, sell-side analysts predict that FirstService will post 5.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in FirstService by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,815,548 shares of the financial services provider's stock valued at $301,051,000 after acquiring an additional 20,872 shares during the last quarter. Orbis Allan Gray Ltd increased its holdings in FirstService by 18.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider's stock worth $235,183,000 after acquiring an additional 224,125 shares during the period. FIL Ltd increased its holdings in FirstService by 12.0% during the 4th quarter. FIL Ltd now owns 1,057,284 shares of the financial services provider's stock worth $191,524,000 after acquiring an additional 113,592 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in FirstService by 2.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 671,431 shares of the financial services provider's stock worth $111,424,000 after acquiring an additional 15,334 shares during the period. Finally, Franklin Resources Inc. increased its holdings in FirstService by 18.5% during the 4th quarter. Franklin Resources Inc. now owns 556,050 shares of the financial services provider's stock worth $100,632,000 after acquiring an additional 86,909 shares during the period. 69.35% of the stock is currently owned by institutional investors and hedge funds.

About FirstService

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.

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