Analysts Set FirstService Corporation (FSV) Target Price at $67.00
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has been assigned a consensus rating of “Buy” from the seven research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $67.00.
Several equities research analysts recently weighed in on FSV shares. BidaskClub lowered FirstService Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. TheStreet upgraded FirstService Corporation from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Zacks Investment Research upgraded FirstService Corporation from a “hold” rating to a “strong-buy” rating and set a $73.00 price target for the company in a report on Wednesday, August 2nd. Raymond James Financial, Inc. upped their price target on FirstService Corporation from $63.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada upped their price target on FirstService Corporation from $65.00 to $71.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th.
Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in FirstService Corporation by 8.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 63,150 shares of the financial services provider’s stock worth $2,998,000 after buying an additional 4,812 shares in the last quarter. Van Berkom & Associates Inc. boosted its stake in FirstService Corporation by 1.1% in the first quarter. Van Berkom & Associates Inc. now owns 1,197,543 shares of the financial services provider’s stock worth $72,282,000 after buying an additional 13,400 shares in the last quarter. Baskin Financial Services Inc. boosted its stake in FirstService Corporation by 1.1% in the first quarter. Baskin Financial Services Inc. now owns 166,970 shares of the financial services provider’s stock worth $10,029,000 after buying an additional 1,735 shares in the last quarter. Karp Capital Management Corp purchased a new stake in FirstService Corporation during the first quarter worth about $1,432,000. Finally, Toronto Dominion Bank boosted its stake in FirstService Corporation by 0.3% in the first quarter. Toronto Dominion Bank now owns 41,188 shares of the financial services provider’s stock worth $2,490,000 after buying an additional 121 shares in the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.
FirstService Corporation (NASDAQ FSV) traded up 0.59% during midday trading on Friday, hitting $66.95. 24,357 shares of the stock were exchanged. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 53.56 and a beta of 0.91. FirstService Corporation has a 12-month low of $39.05 and a 12-month high of $67.41. The firm has a 50 day moving average of $64.21 and a 200-day moving average of $61.18.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. FirstService Corporation had a return on equity of 24.64% and a net margin of 2.84%. The firm had revenue of $434.90 million during the quarter, compared to analyst estimates of $421.35 million. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts expect that FirstService Corporation will post $1.96 earnings per share for the current year.
FirstService Corporation announced that its board has initiated a share repurchase plan on Thursday, August 17th that permits the company to buyback 3,100,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
About FirstService Corporation
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.
Receive News & Stock Ratings for FirstService Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstService Corporation and related stocks with our FREE daily email newsletter.