FirstService (NASDAQ:FSV) Sets New 52-Week High at $182.95

FirstService Co. (NASDAQ:FSV) (TSE:FSV) shares hit a new 52-week high on Tuesday . The stock traded as high as $182.95 and last traded at $182.51, with a volume of 8878 shares. The stock had previously closed at $182.67.

Analysts Set New Price Targets

FSV has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Royal Bank of Canada raised their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. TD Securities upped their price target on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Scotiabank raised their target price on shares of FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, FirstService presently has an average rating of “Moderate Buy” and a consensus target price of $189.50.

FirstService Stock Performance

The company’s fifty day simple moving average is $174.19 and its two-hundred day simple moving average is $161.37. 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 stock has a market capitalization of $8.21 billion, a P/E ratio of 90.42 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping 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 return on equity of 15.60% and a net margin of 1.73%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.37 earnings per share. As a group, equities analysts forecast that FirstService Co. will post 4.32 EPS for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, September 27th. FirstService’s dividend payout ratio is currently 49.50%.

Institutional Investors Weigh In On FirstService

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of FirstService by 245.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock worth $54,803,000 after acquiring an additional 240,303 shares during the period. Millennium Management LLC grew its position in 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 acquiring an additional 199,937 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in FirstService by 6.8% during the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after acquiring an additional 174,970 shares in the last quarter. LM Advisors LLC bought a new position in shares of FirstService in the fourth quarter worth about $15,557,000. Finally, Vanguard Group Inc. boosted its stake in shares of FirstService by 4.8% in 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 purchasing an additional 76,503 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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.