FirstService (NASDAQ:FSV) PT Raised to $182.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective upped by research analysts at TD Securities from $179.00 to $182.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Securities’ target price would suggest a potential downside of 2.66% from the company’s current price.

FSV has been the subject of several other reports. Scotiabank lifted their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday. Royal Bank of Canada lifted their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.67.

FirstService Price Performance

NASDAQ:FSV opened at $186.98 on Thursday. The company has a 50-day moving average of $178.96 and a 200-day moving average of $163.38. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 92.56 and a beta of 1.05. FirstService has a 52 week low of $134.77 and a 52 week high of $189.89. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The company 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%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. As a group, equities research analysts anticipate that FirstService will post 4.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstService

Several institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its holdings in FirstService by 2,136.1% during the second quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock valued at $31,853,000 after purchasing an additional 199,937 shares during the period. The Manufacturers Life Insurance Company lifted its stake in FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after buying an additional 174,970 shares in the last quarter. Vanguard Group Inc. lifted its stake in FirstService by 4.8% in the first 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 in the last quarter. Summit Creek Advisors LLC bought a new position in FirstService in the first quarter valued at approximately $11,710,000. Finally, Conestoga Capital Advisors LLC lifted its stake in FirstService by 3.2% in the second 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 in the last quarter. 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.