Zacks Investment Research downgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “FirstService Corporation offers property services to commercial, institutional and residential customers primarily in North America and internationally. Its operating segment consists of Commercial Real Estate Services, Residential Real Estate Services and Property Services. FirstService Corporation is headquartered in Toronto, Canada. “

A number of other analysts have also commented on FSV. ValuEngine lowered shares of FirstService from a buy rating to a hold rating in a research report on Tuesday, December 11th. BidaskClub downgraded shares of FirstService from a buy rating to a hold rating in a report on Saturday, December 15th. Royal Bank of Canada boosted their target price on shares of FirstService from $88.00 to $92.00 and gave the stock a sector perform rating in a report on Thursday, February 7th. Raymond James restated a market perform rating and set a $84.00 target price on shares of FirstService in a report on Friday, February 8th. Finally, William Blair restated a market perform rating on shares of FirstService in a report on Wednesday, February 6th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. FirstService presently has an average rating of Hold and an average price target of $89.00.

Shares of FSV opened at $88.07 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.45 and a current ratio of 1.45. FirstService has a twelve month low of $64.87 and a twelve month high of $90.21. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 48.93 and a beta of 0.99.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.31). The company had revenue of $503.31 million during the quarter, compared to the consensus estimate of $481.54 million. FirstService had a net margin of 3.41% and a return on equity of 31.55%. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Analysts anticipate that FirstService will post 1.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 29th were issued a $0.15 dividend. This is an increase from FirstService’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, March 28th. FirstService’s payout ratio is currently 33.33%.

Several hedge funds have recently added to or reduced their stakes in FSV. Tower Research Capital LLC TRC bought a new stake in FirstService during the third quarter worth about $101,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in FirstService by 14.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,163 shares of the financial services provider’s stock worth $148,000 after purchasing an additional 268 shares during the period. Citadel Advisors LLC bought a new stake in FirstService during the third quarter worth about $251,000. Jane Street Group LLC bought a new stake in FirstService during the third quarter worth about $267,000. Finally, National Asset Management Inc. lifted its position in FirstService by 42.8% during the fourth quarter. National Asset Management Inc. now owns 3,885 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 1,164 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.

FirstService Company Profile

FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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