FirstService (NASDAQ:FSV) PT Raised to $192.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective increased by Royal Bank of Canada from $187.00 to $192.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Scotiabank boosted their price target on shares of FirstService from $170.00 to $175.00 and gave the stock a sector perform rating in a research report on Friday, July 12th. BMO Capital Markets boosted their price target on shares of FirstService from $193.00 to $196.00 and gave the stock an outperform rating in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $189.33.

FirstService Price Performance

Shares of NASDAQ FSV opened at $174.83 on Friday. FirstService has a fifty-two week low of $134.77 and a fifty-two week high of $177.46. The firm’s 50-day simple moving average is $154.43 and its 200 day simple moving average is $158.39. The company has a quick ratio of 2.00, a current ratio of 1.78 and a debt-to-equity ratio of 1.23. The stock has a market cap of $7.86 billion, a P/E ratio of 86.55 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $1.37 earnings per share. FirstService’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts expect that FirstService will post 4.32 EPS for the current year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 28th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 0.57%. FirstService’s payout ratio is presently 49.51%.

Institutional Trading of FirstService

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in FirstService by 0.7% during the 4th quarter. Mackenzie Financial Corp now owns 2,381,128 shares of the financial services provider’s stock valued at $385,917,000 after acquiring an additional 16,362 shares in the last quarter. Vanguard Group Inc. grew its stake in FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after acquiring an additional 76,503 shares in the last quarter. Conestoga Capital Advisors LLC grew its stake in FirstService by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after acquiring an additional 44,236 shares in the last quarter. CIBC Asset Management Inc grew its stake in FirstService by 1.6% during the 4th quarter. CIBC Asset Management Inc now owns 520,447 shares of the financial services provider’s stock valued at $84,579,000 after acquiring an additional 8,432 shares in the last quarter. Finally, Norges Bank purchased a new position in FirstService during the 4th quarter valued at about $82,488,000. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.