FirstService (FSV) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other research firms also recently issued reports on FSV. Royal Bank of Canada reiterated a buy rating and set a $71.00 price target on shares of FirstService in a research note on Wednesday, September 27th. Zacks Investment Research downgraded FirstService from a strong-buy rating to a hold rating in a research note on Tuesday, September 26th. Scotiabank downgraded FirstService from an outperform rating to a sector perform rating in a research note on Thursday, October 26th. Finally, William Blair downgraded FirstService from an outperform rating to a market perform rating in a research note on Wednesday, September 13th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $69.20.

Shares of FirstService (NASDAQ FSV) traded down $0.58 during trading on Wednesday, reaching $68.42. The company had a trading volume of 12,300 shares, compared to its average volume of 15,200. FirstService has a twelve month low of $47.59 and a twelve month high of $74.49. The company has a market cap of $2,477.17, a price-to-earnings ratio of 55.18 and a beta of 0.80. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.95 and a quick ratio of 0.95.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.24. FirstService had a return on equity of 24.16% and a net margin of 2.74%. The business had revenue of $456.50 million during the quarter, compared to analyst estimates of $449.26 million. During the same period in the previous year, the company posted $0.62 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. sell-side analysts predict that FirstService will post 1.93 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be paid a $0.1225 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.72%. FirstService’s payout ratio is presently 39.52%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of FirstService by 17.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock worth $141,000 after buying an additional 324 shares during the last quarter. Highstreet Asset Management Inc. boosted its stake in shares of FirstService by 611.1% in the 3rd quarter. Highstreet Asset Management Inc. now owns 2,553 shares of the financial services provider’s stock worth $168,000 after buying an additional 2,194 shares during the last quarter. Orgel Wealth Management LLC purchased a new position in shares of FirstService in the 2nd quarter worth approximately $211,000. Legal & General Group Plc boosted its stake in shares of FirstService by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 3,487 shares of the financial services provider’s stock worth $223,000 after buying an additional 198 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in shares of FirstService in the 2nd quarter worth approximately $308,000. Hedge funds and other institutional investors own 61.17% of the company’s stock.

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FirstService 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.

Analyst Recommendations for FirstService (NASDAQ:FSV)

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