FirstService (NASDAQ:FSV) Given New $179.00 Price Target at TD Securities

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target increased by TD Securities from $178.00 to $179.00 in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms also recently issued reports on FSV. Scotiabank boosted their price target on FirstService from $175.00 to $190.00 and gave the company a sector perform rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their target price on shares of FirstService from $187.00 to $192.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an outperform rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $189.50.

FirstService Stock Up 1.0 %

FSV opened at $182.07 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $171.47 and its 200 day simple moving average is $160.75. FirstService has a 1-year low of $134.77 and a 1-year high of $182.29. The stock has a market cap of $8.20 billion, a PE ratio of 90.13 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its 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. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. FirstService’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. As a group, research analysts expect that FirstService will post 4.32 earnings per share for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, September 30th. FirstService’s dividend payout ratio is presently 49.51%.

Institutional Trading of FirstService

A number of hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in shares of FirstService by 8.9% during the fourth quarter. TD Asset Management Inc now owns 250,577 shares of the financial services provider’s stock valued at $40,739,000 after purchasing an additional 20,397 shares in the last quarter. Toronto Dominion Bank boosted its position in FirstService by 68.0% during the 1st quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock worth $11,416,000 after buying an additional 27,871 shares during the period. Norden Group LLC bought a new stake in FirstService during the 1st quarter worth approximately $862,000. LM Advisors LLC acquired a new position in FirstService in the 4th quarter valued at approximately $15,557,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of FirstService by 245.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after acquiring an additional 240,303 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.