FirstService (NASDAQ:FSV) Reaches New 12-Month Low – Time to Sell?

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) shares hit a new 52-week low on Monday . The stock traded as low as $119.41 and last traded at $132.44, with a volume of 3368 shares traded. The stock had previously closed at $129.70.

Analyst Ratings Changes

FSV has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $202.00 price objective on shares of FirstService in a research report on Thursday, February 5th. Scotiabank cut their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 24th. TD boosted their price objective on shares of FirstService from $201.00 to $204.00 and gave the company a “buy” rating in a research report on Friday, April 24th. TD Cowen cut their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Stifel Nicolaus cut their price objective on shares of FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, April 27th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.89.

FirstService Price Performance

The stock has a fifty day moving average price of $140.96 and a 200-day moving average price of $150.64. The firm has a market capitalization of $6.06 billion, a PE ratio of 37.17, a P/E/G ratio of 3.94 and a beta of 0.97. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.66 and a current ratio of 1.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The company’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Sell-side analysts forecast that FirstService Corporation will post 5.54 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService’s dividend payout ratio (DPR) is currently 34.46%.

Institutional Investors Weigh In On FirstService

A number of hedge funds and other institutional investors have recently made changes to their positions in FSV. Truist Financial Corp increased its holdings in FirstService by 0.9% in the 4th quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after acquiring an additional 77 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in FirstService by 5.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after acquiring an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 79 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its holdings in FirstService by 1.1% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after acquiring an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.