FirstService (NASDAQ:FSV) Reaches New 52-Week High After Analyst Upgrade

FirstService Co. (NASDAQ:FSV) (TSE:FSV)’s stock price reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $200.00 to $215.00. Stifel Nicolaus currently has a buy rating on the stock. FirstService traded as high as $191.30 and last traded at $191.30, with a volume of 201 shares changing hands. The stock had previously closed at $186.98.

FSV has been the topic of several other reports. Royal Bank of Canada increased their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. TD Securities raised their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Finally, Scotiabank upped their price target on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FirstService by 1.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 81,663 shares of the financial services provider’s stock worth $13,528,000 after acquiring an additional 1,240 shares in the last quarter. Norden Group LLC acquired a new stake in FirstService in the 1st quarter valued at $862,000. Diversify Advisory Services LLC purchased a new position in FirstService in the first quarter valued at about $429,000. BNP Paribas Financial Markets lifted its stake in shares of FirstService by 103.1% during the first quarter. BNP Paribas Financial Markets now owns 15,790 shares of the financial services provider’s stock worth $2,618,000 after purchasing an additional 8,017 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of FirstService in the first quarter worth about $353,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Trading Down 1.0 %

The business has a 50 day moving average price of $179.90 and a 200-day moving average price of $163.93. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 90.75 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company earned $1.37 earnings per share. FirstService’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, research analysts expect that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

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

About FirstService

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.