FirstService Corporation (NASDAQ:FSV) Stock Has Consensus Target Price of $179.82

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $179.82.

Several brokerages have commented on FSV. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. TD Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of FirstService in a research report on Friday, July 24th. Weiss Ratings raised shares of FirstService from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, October 22nd. Canadian Imperial Bank of Commerce boosted their price target on FirstService from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, October 23rd. Finally, Raymond James Financial reissued an “outperform” rating and issued a $190.00 price objective on shares of FirstService in a research note on Friday, October 23rd.

FirstService Stock Down 1.0%

Shares of NASDAQ:FSV opened at $153.62 on Friday. FirstService has a 1 year low of $119.41 and a 1 year high of $166.73. The business has a 50 day simple moving average of $136.39 and a two-hundred day simple moving average of $142.21. The firm has a market capitalization of $6.44 billion, a PE ratio of 46.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.56 and a quick ratio of 1.63.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.05. FirstService had a return on equity of 19.66% and a net margin of 2.59%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the business posted $1.76 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that FirstService will post 5.62 EPS for the current year.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a $0.3050 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, September 30th. FirstService’s dividend payout ratio is presently 37.20%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its position in shares of FirstService by 16.1% during the 1st 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 during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in FirstService by 19.9% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider’s stock worth $195,289,000 after buying an additional 233,043 shares during the last quarter. Royal Bank of Canada increased its stake in FirstService by 15.7% during the 1st quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider’s stock worth $79,672,000 after buying an additional 77,758 shares in the last quarter. Copeland Capital Management LLC increased its stake in FirstService by 6.5% during the 1st quarter. Copeland Capital Management LLC now owns 368,543 shares of the financial services provider’s stock worth $51,206,000 after buying an additional 22,501 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of FirstService by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 277,225 shares of the financial services provider’s stock valued at $38,513,000 after acquiring an additional 8,689 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

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.