FirstService (NASDAQ:FSV) Price Target Increased to $179.00 by Analysts at TD Securities

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target raised by TD Securities from $178.00 to $179.00 in a report published on Wednesday, Marketbeat reports. TD Securities currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also weighed in on the stock. BMO Capital Markets lifted their target price on shares of FirstService from $193.00 to $196.00 and gave the company an outperform rating in a report on Friday, June 7th. Royal Bank of Canada lifted their target price on shares of FirstService from $187.00 to $192.00 and gave the company an outperform rating in a report on Friday, July 26th. Finally, Scotiabank lifted their target price on shares of FirstService from $175.00 to $190.00 and gave the company a sector perform rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $189.50.

FirstService Stock Up 0.4 %

Shares of FSV opened at $179.08 on Wednesday. The firm has a market cap of $8.06 billion, a PE ratio of 88.65 and a beta of 1.05. The company’s fifty day moving average is $169.95 and its two-hundred day moving average is $160.38. FirstService has a fifty-two week low of $134.77 and a fifty-two week high of $181.23. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. FirstService’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. Analysts forecast that FirstService will post 4.31 earnings per share for the current year.

Institutional Investors Weigh In On FirstService

Several hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in shares of FirstService by 6.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 buying an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of 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 buying an additional 44,236 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of FirstService by 0.8% during the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after buying an additional 6,863 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of FirstService by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock valued at $98,033,000 after buying an additional 21,100 shares during the last quarter. Institutional investors 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.