FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $67.00.
FSV has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. William Blair downgraded shares of FirstService Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 13th. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Finally, Royal Bank of Canada boosted their target price on shares of FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th.
FirstService Corporation (FSV) opened at 64.82 on Wednesday. FirstService Corporation has a 12 month low of $39.05 and a 12 month high of $70.83. The company’s 50-day moving average is $66.37 and its 200-day moving average is $66.37. The company has a market cap of $2.33 billion, a P/E ratio of 51.86 and a beta of 0.90.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million during the quarter, compared to analyst estimates of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. FirstService Corporation’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities research analysts expect that FirstService Corporation will post $1.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 6th. Shareholders of record on Friday, September 29th will be given a dividend of $0.1225 per share. This represents a $0.49 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, September 28th. FirstService Corporation’s dividend payout ratio is presently 39.20%.
FirstService Corporation announced that its board has authorized a stock repurchase program on Thursday, August 17th that authorizes the company to buyback 3,100,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in FSV. Neuberger Berman Group LLC purchased a new stake in FirstService Corporation during the 1st quarter worth approximately $45,157,000. Fiera Capital Corp grew its position in FirstService Corporation by 43.6% during the 2nd quarter. Fiera Capital Corp now owns 1,176,304 shares of the financial services provider’s stock worth $75,345,000 after purchasing an additional 357,370 shares during the last quarter. Renaissance Technologies LLC grew its position in FirstService Corporation by 26.7% during the 1st quarter. Renaissance Technologies LLC now owns 813,200 shares of the financial services provider’s stock worth $49,043,000 after purchasing an additional 171,600 shares during the last quarter. AJO LP purchased a new stake in FirstService Corporation during the 2nd quarter worth approximately $8,115,000. Finally, RK Capital Management LLC purchased a new stake in FirstService Corporation during the 1st quarter worth approximately $7,248,000. 58.96% of the stock is currently owned by institutional investors.
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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