FirstService Corporation (FSV) Upgraded to Strong-Buy by BidaskClub
BidaskClub upgraded shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
Several other equities analysts also recently commented on FSV. Zacks Investment Research downgraded FirstService Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, June 27th. Raymond James Financial, Inc. raised their target price on FirstService Corporation from $63.00 to $65.00 and gave the stock a market perform rating in a research report on Thursday, July 27th. Royal Bank Of Canada raised their target price on FirstService Corporation from $65.00 to $71.00 and gave the stock an outperform rating in a research report on Thursday, July 27th. Finally, TheStreet upgraded FirstService Corporation from a c rating to a b- rating in a research report on Wednesday, July 26th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. FirstService Corporation presently has an average rating of Buy and an average target price of $67.00.
Shares of FirstService Corporation (NASDAQ FSV) opened at 69.03 on Wednesday. The company’s 50 day moving average price is $65.12 and its 200 day moving average price is $62.01. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 55.22 and a beta of 0.90. FirstService Corporation has a 52-week low of $39.05 and a 52-week high of $70.60.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data 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 company had revenue of $434.90 million for the quarter, compared to analyst estimates of $421.35 million. During the same quarter last year, the firm earned $0.52 EPS. FirstService Corporation’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts forecast that FirstService Corporation will post $1.96 earnings per share for the current year.
FirstService Corporation announced that its board has authorized a share repurchase program on Thursday, August 17th that permits the company to buyback 3,100,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FirstService Corporation by 17.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 324 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in shares of FirstService Corporation during the second quarter worth $209,000. Legal & General Group Plc raised its position in shares of FirstService Corporation by 37.7% during the first quarter. Legal & General Group Plc now owns 3,289 shares of the financial services provider’s stock worth $198,000 after acquiring an additional 900 shares during the last quarter. Orgel Wealth Management LLC bought a new stake in shares of FirstService Corporation during the second quarter worth $211,000. Finally, UBS Group AG raised its position in shares of FirstService Corporation by 21.2% during the first quarter. UBS Group AG now owns 3,427 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 58.96% of the company’s stock.
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.