FirstService FY2024 EPS Forecast Reduced by Stifel Canada

FirstService Co. (NASDAQ:FSVFree Report) (TSE:FSV) – Stifel Canada lowered their FY2024 earnings estimates for FirstService in a note issued to investors on Sunday, January 26th. Stifel Canada analyst D. Young now forecasts that the financial services provider will earn $4.58 per share for the year, down from their prior estimate of $4.61. The consensus estimate for FirstService’s current full-year earnings is $4.64 per share. Stifel Canada also issued estimates for FirstService’s Q4 2024 earnings at $1.23 EPS.

Other analysts have also issued research reports about the company. StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Stifel Nicolaus upped their target price on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Raymond James raised their price target on FirstService from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. TD Securities upped their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, Scotiabank raised their target price on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. 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, FirstService currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

Check Out Our Latest Analysis on FirstService

FirstService Price Performance

FirstService stock opened at $183.01 on Tuesday. 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 cap of $8.28 billion, a price-to-earnings ratio of 76.25 and a beta of 1.06. The firm has a 50-day moving average of $185.54 and a two-hundred day moving average of $181.28. FirstService has a 1 year low of $141.26 and a 1 year high of $197.84.

Hedge Funds Weigh In On FirstService

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in FirstService during the 4th quarter worth approximately $29,000. Trust Co. of Vermont acquired a new stake in shares of FirstService during the fourth quarter worth $46,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of FirstService during the third quarter worth $53,000. Venturi Wealth Management LLC acquired a new position in shares of FirstService in the 3rd quarter valued at $66,000. Finally, Blue Trust Inc. raised its stake in FirstService by 158.2% in the 4th quarter. Blue Trust Inc. now owns 728 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 446 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Tuesday, December 31st. FirstService’s dividend payout ratio is currently 41.67%.

About FirstService

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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.

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