BidaskClub Lowers FirstService Corporation (NASDAQ:FSV) to Sell
BidaskClub cut shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) from a hold rating to a sell rating in a research report released on Tuesday morning.
Several other analysts have also commented on FSV. Zacks Investment Research lowered shares of FirstService Corporation from a strong-buy rating to a hold rating in a research note on Tuesday, June 27th. Raymond James Financial, Inc. increased their target price on shares of FirstService Corporation from $61.00 to $63.00 and gave the company a market perform rating in a research note on Thursday, April 27th. Royal Bank Of Canada increased their target price on shares of FirstService Corporation from $58.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, April 27th. BMO Capital Markets reissued a hold rating and set a $65.00 target price on shares of FirstService Corporation in a research note on Thursday, April 27th. Finally, Citigroup Inc. reissued a market perform rating and set a $61.00 target price (up from $60.00) on shares of FirstService Corporation in a research note on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $65.50.
Shares of FirstService Corporation (NASDAQ:FSV) traded down 2.18% on Tuesday, hitting $64.94. The company had a trading volume of 28,549 shares. The company has a 50-day moving average of $63.66 and a 200 day moving average of $59.15. The stock has a market cap of $2.33 billion, a PE ratio of 51.95 and a beta of 0.93. FirstService Corporation has a 12 month low of $39.05 and a 12 month high of $67.41.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.11. The business had revenue of $434.90 million during the quarter, compared to analysts’ expectations of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. Analysts anticipate that FirstService Corporation will post $1.99 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Friday, June 30th were paid a dividend of $0.1225 per share. This represents a $0.49 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, June 28th. FirstService Corporation’s dividend payout ratio is presently 39.20%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in FirstService Corporation by 37.7% in the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock valued at $198,000 after buying an additional 900 shares in the last quarter. UBS Group AG raised its stake in FirstService Corporation by 21.2% in the first quarter. UBS Group AG now owns 3,427 shares of the financial services provider’s stock valued at $206,000 after buying an additional 600 shares in the last quarter. Citadel Advisors LLC acquired a new stake in FirstService Corporation during the first quarter valued at approximately $282,000. JPMorgan Chase & Co. raised its stake in FirstService Corporation by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 4,860 shares of the financial services provider’s stock valued at $224,000 after buying an additional 195 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in FirstService Corporation by 10.3% in the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock valued at $474,000 after buying an additional 733 shares in the last quarter. 58.54% of the stock is owned by institutional investors and hedge funds.
FirstService Corporation Company Profile
Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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