Analysts Set FirstService Co. (NASDAQ:FSV) Price Target at $189.50

FirstService Co. (NASDAQ:FSV) (TSE:FSV) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $189.50.

FSV has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Scotiabank upped their price objective on FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, TD Securities raised their price objective on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th.

FirstService Price Performance

Shares of FirstService stock opened at $180.36 on Wednesday. The firm has a market cap of $8.11 billion, a PE ratio of 89.29 and a beta of 1.05. The stock has a 50 day moving average of $175.57 and a 200 day moving average of $161.87. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService has a 12 month low of $134.77 and a 12 month high of $183.86.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company earned $1.37 EPS. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that FirstService will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 30th. FirstService’s payout ratio is currently 49.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FSV. The Manufacturers Life Insurance Company lifted its stake in shares of FirstService by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock worth $415,427,000 after acquiring an additional 174,970 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after purchasing an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after purchasing an additional 44,236 shares during the period. William Blair Investment Management LLC grew its holdings in shares of FirstService by 0.8% in the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock worth $131,323,000 after purchasing an additional 6,863 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of FirstService by 3.4% in the second quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock worth $98,033,000 after purchasing an additional 21,100 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.