FirstService (NASDAQ:FSV) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $142.62 and traded as low as $140.11. FirstService shares last traded at $141.20, with a volume of 112,127 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on FSV. BMO Capital Markets restated an “outperform” rating and set a $179.00 price target on shares of FirstService in a report on Friday. Weiss Ratings upgraded shares of FirstService from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Stifel Nicolaus increased their target price on shares of FirstService from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Canadian Imperial Bank of Commerce increased their target price on shares of FirstService from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Raymond James Financial reissued an “outperform” rating and set a $190.00 target price on shares of FirstService in a research note on Friday. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.82.

FirstService Price Performance

The firm has a 50-day simple moving average of $135.78 and a two-hundred day simple moving average of $142.62.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.84 by $0.05. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the previous year, the firm posted $1.76 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that FirstService Corporation will post 5.61 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were given a $0.3050 dividend. This represents a $1.22 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th.

Institutional Investors Weigh In On FirstService

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in FirstService by 16.1% in the first quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider’s stock worth $220,560,000 after purchasing an additional 219,890 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in FirstService by 19.9% during the first quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider’s stock valued at $195,289,000 after buying an additional 233,043 shares in the last quarter. Royal Bank of Canada raised its holdings in FirstService by 15.7% during the first quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider’s stock valued at $79,672,000 after buying an additional 77,758 shares in the last quarter. Copeland Capital Management LLC raised its holdings in FirstService by 11.9% during the third quarter. Copeland Capital Management LLC now owns 389,749 shares of the financial services provider’s stock valued at $49,841,000 after buying an additional 41,333 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of FirstService by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 277,225 shares of the financial services provider’s stock worth $38,513,000 after buying an additional 8,689 shares during the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

FirstService Company Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.