FirstService (NASDAQ:FSV) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded FirstService (NASDAQ:FSV) from a "buy" rating to a "hold" rating, marking a shift in analyst sentiment on the stock.
• FirstService reported $1.71 earnings per share for the last quarter, exceeding consensus estimates of $1.45, alongside revenue growth of 9.1% year-over-year.
• Institutional investors hold 69.35% of FirstService's stock, indicating strong interest and investment in the company from large stakeholders.

Wall Street Zen cut shares of FirstService (NASDAQ:FSV - Free Report) TSE: FSV from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently weighed in on the stock. TD Securities increased their price target on shares of FirstService from $200.00 to $211.00 and gave the company a "hold" rating in a research report on Friday, July 25th. Scotiabank increased 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. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, FirstService has an average rating of "Moderate Buy" and an average price target of $217.75.

FirstService Trading Up 0.1%

Shares of FSV stock traded up $0.16 on Friday, hitting $197.71. 27,067 shares of the company's stock traded hands, compared to its average volume of 135,471. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. FirstService has a one year low of $153.13 and a one year high of $202.55. The company's fifty day simple moving average is $189.26 and its 200 day simple moving average is $178.26. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 63.34 and a beta of 0.96.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in FirstService by 1.2% during the 1st 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 period. Mackenzie Financial Corp lifted its position in FirstService by 100.8% during the 2nd quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider's stock valued at $257,634,000 after acquiring an additional 740,583 shares during the period. Orbis Allan Gray Ltd lifted its position in FirstService by 0.5% during the 2nd quarter. Orbis Allan Gray Ltd now owns 1,423,870 shares of the financial services provider's stock valued at $248,636,000 after acquiring an additional 6,680 shares during the period. Price T Rowe Associates Inc. MD lifted its position 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 valued at $111,424,000 after acquiring an additional 15,334 shares during the period. Finally, Franklin Resources Inc. raised its holdings in FirstService by 8.8% in the second quarter. Franklin Resources Inc. now owns 586,891 shares of the financial services provider's stock worth $102,482,000 after buying an additional 47,696 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.