FirstService (NASDAQ:FSV) Sets New 12-Month High – Here’s Why

FirstService Co. (NASDAQ:FSV) (TSE:FSV) shares hit a new 52-week high on Wednesday . The company traded as high as $183.93 and last traded at $183.88, with a volume of 29007 shares trading hands. The stock had previously closed at $180.40.

Wall Street Analyst Weigh In

Several brokerages recently commented on FSV. TD Securities lifted their price objective on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Scotiabank upped their price target on shares of FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.50.

FirstService Stock Up 2.5 %

The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $8.31 billion, a PE ratio of 89.31 and a beta of 1.05. The company’s fifty day moving average is $176.79 and its 200-day moving average is $162.34.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.26 by $0.10. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, analysts predict that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 30th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 annualized dividend and a yield of 0.54%. FirstService’s payout ratio is presently 49.50%.

Institutional Investors Weigh In On FirstService

Large investors have recently added to or reduced their stakes in the stock. Accent Capital Management LLC purchased a new stake in shares of FirstService during the fourth quarter worth about $40,000. Blue Trust Inc. boosted its stake in shares of FirstService by 8,066.7% in the second quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after buying an additional 242 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 91 shares during the period. Gulf International Bank UK Ltd boosted its position in FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 75 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 138 shares during the period. 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.