FirstService Corp. (FSV) Receives $44.00 Average PT from Brokerages
Shares of FirstService Corp. (NASDAQ:FSV) have received an average rating of “Hold” from the seven research firms that are covering the firm. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $44.00.
Several analysts recently weighed in on the company. Zacks Investment Research lowered FirstService Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 28th. RBC Capital Markets assumed coverage on FirstService Corp. in a research note on Tuesday, September 20th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada assumed coverage on FirstService Corp. in a research note on Tuesday, September 20th. They issued an “outperform” rating and a $56.00 price objective on the stock.
Several hedge funds have recently made changes to their positions in FSV. Baskin Financial Services Inc. raised its stake in shares of FirstService Corp. by 189.8% in the second quarter. Baskin Financial Services Inc. now owns 100,435 shares of the company’s stock worth $4,556,000 after buying an additional 65,780 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of FirstService Corp. during the second quarter worth approximately $3,793,000. Swiss National Bank raised its stake in shares of FirstService Corp. by 2.7% in the second quarter. Swiss National Bank now owns 57,200 shares of the company’s stock worth $2,603,000 after buying an additional 1,500 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of FirstService Corp. during the second quarter worth approximately $25,502,000. Finally, CIBC World Markets Inc. raised its stake in shares of FirstService Corp. by 72.4% in the second quarter. CIBC World Markets Inc. now owns 331,535 shares of the company’s stock worth $15,194,000 after buying an additional 139,234 shares during the last quarter. 55.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FirstService Corp. (NASDAQ:FSV) opened at 44.20 on Monday. FirstService Corp. has a 52 week low of $32.01 and a 52 week high of $53.15. The stock has a 50 day moving average price of $47.12 and a 200-day moving average price of $46.06. The company has a market capitalization of $1.59 billion, a PE ratio of 56.52 and a beta of 0.58.
FirstService Corp. (NASDAQ:FSV) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.52 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.52. FirstService Corp. had a return on equity of 19.20% and a net margin of 2.09%. The company had revenue of $385.10 million for the quarter, compared to analysts’ expectations of $386.29 million. During the same quarter last year, the business earned $0.40 earnings per share. FirstService Corp.’s revenue was up 18.0% on a year-over-year basis. Equities research analysts expect that FirstService Corp. will post $1.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, September 30th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, September 28th. FirstService Corp.’s payout ratio is 56.41%.
FirstService Corp. Company Profile
FirstService Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company’s operations are conducted in two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides a range of ancillary services primarily in various areas, including 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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