FirstService Co. (NASDAQ:FSV) Receives $198.33 Consensus Price Target from Analysts

FirstService Co. (NASDAQ:FSV) (TSE:FSV) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $198.33.

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. TD Securities upped their price target on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Stifel Nicolaus lifted their price objective on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Scotiabank upped their target price on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a report on Tuesday, October 15th.

Hedge Funds Weigh In On FirstService

A number of large investors have recently made changes to their positions in the company. Franklin Resources Inc. raised its stake in FirstService by 486.3% in the 3rd quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider’s stock worth $87,308,000 after purchasing an additional 389,129 shares in the last quarter. Millennium Management LLC raised its position in shares of FirstService by 2,136.1% in the second quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock valued at $31,853,000 after buying an additional 199,937 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 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 during the period. Bank of Montreal Can grew its position in FirstService by 19.7% during the third quarter. Bank of Montreal Can now owns 388,430 shares of the financial services provider’s stock worth $69,992,000 after buying an additional 63,807 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its stake in FirstService by 25.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 246,673 shares of the financial services provider’s stock worth $45,008,000 after acquiring an additional 49,790 shares during the period. Institutional investors own 69.35% of the company’s stock.

FirstService Stock Up 1.5 %

FSV stock opened at $181.61 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $8.22 billion, a P/E ratio of 75.67 and a beta of 1.04. FirstService has a fifty-two week low of $141.26 and a fifty-two week high of $197.84. The business has a 50-day moving average of $187.78 and a 200-day moving average of $178.07.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.21. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, sell-side analysts anticipate that FirstService will post 4.58 earnings per share for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. FirstService’s dividend payout ratio (DPR) is currently 41.67%.

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.