FirstService (NASDAQ:FSV) Posts Earnings Results, Misses Expectations By $0.01 EPS

FirstService (NASDAQ:FSV) (TSE:FSV) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.01), reports. FirstService had a return on equity of 15.16% and a net margin of 2.02%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion.

FirstService Stock Down 1.2 %

Shares of FirstService stock traded down $1.82 during trading on Friday, reaching $149.80. The stock had a trading volume of 82,212 shares, compared to its average volume of 85,591. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 74.16 and a beta of 0.97. The stock has a fifty day moving average price of $161.56 and a two-hundred day moving average price of $158.34. FirstService has a 52 week low of $134.77 and a 52 week high of $171.94. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 0.89.

FirstService Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from FirstService’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Wednesday, March 27th. FirstService’s payout ratio is 49.51%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. BMO Capital Markets decreased their target price on FirstService from $196.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. TheStreet cut FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Raymond James boosted their target price on FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 target price on shares of FirstService in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.86.

Institutional Trading of FirstService

A number of institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new stake in FirstService during the fourth quarter worth about $39,000. Spire Wealth Management bought a new stake in FirstService during the fourth quarter worth about $40,000. Accent Capital Management LLC bought a new stake in FirstService during the fourth quarter worth about $40,000. Gulf International Bank UK Ltd raised its holdings in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 75 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in FirstService by 126.6% during the third quarter. Exchange Traded Concepts LLC now owns 392 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 219 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.