FirstService Corporation (FSV) Raised to Buy at BidaskClub
BidaskClub upgraded shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) from a hold rating to a buy rating in a research report released on Saturday.
Several other research analysts have also weighed in on the company. Zacks Investment Research raised FirstService Corporation from a hold rating to a strong-buy rating and set a $73.00 target price on the stock in a research report on Wednesday, August 2nd. TheStreet upgraded FirstService Corporation from a c rating to a b- rating in a report on Wednesday, July 26th. Royal Bank Of Canada increased their price target on FirstService Corporation from $65.00 to $71.00 and gave the company an outperform rating in a report on Thursday, July 27th. Finally, Raymond James Financial, Inc. increased their price target on FirstService Corporation from $63.00 to $65.00 and gave the company a market perform rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. FirstService Corporation presently has a consensus rating of Buy and an average price target of $67.00.
FirstService Corporation (FSV) opened at 66.95 on Friday. The company has a market cap of $2.41 billion, a P/E ratio of 53.56 and a beta of 0.91. The firm has a 50-day moving average price of $64.21 and a 200 day moving average price of $61.18. 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 issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.11. The business had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Equities research analysts predict that FirstService Corporation will post $1.96 EPS for the current year.
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FirstService Corporation announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 17th that authorizes the company to repurchase 3,100,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently made changes to their positions in the stock. BB&T Securities LLC increased its stake in shares of FirstService Corporation by 166.6% in the first quarter. BB&T Securities LLC now owns 30,556 shares of the financial services provider’s stock valued at $1,842,000 after buying an additional 19,096 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of FirstService Corporation by 141.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 70,119 shares of the financial services provider’s stock valued at $4,228,000 after buying an additional 41,068 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of FirstService Corporation by 7.4% in the first quarter. Alliancebernstein L.P. now owns 19,970 shares of the financial services provider’s stock valued at $1,204,000 after buying an additional 1,380 shares in the last quarter. RK Capital Management LLC acquired a new stake in shares of FirstService Corporation during the first quarter valued at $7,248,000. Finally, Neuberger Berman Group LLC acquired a new stake in shares of FirstService Corporation during the first quarter valued at $45,157,000. Institutional investors own 58.96% of the company’s stock.
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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