Stifel Nicolaus Cuts FirstService (NASDAQ:FSV) Price Target to $215.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective reduced by Stifel Nicolaus from $230.00 to $215.00 in a research report report published on Monday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on FSV. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Scotiabank raised FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their price target for the stock from $220.00 to $205.00 in a research report on Friday, October 24th. BMO Capital Markets set a $209.00 price objective on FirstService and gave the company an “outperform” rating in a report on Friday, October 24th. CIBC lowered their price objective on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating for the company in a research note on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of FirstService in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.17.

FirstService Trading Down 2.3%

FSV stock opened at $155.75 on Monday. The company has a market capitalization of $7.10 billion, a PE ratio of 51.57 and a beta of 0.99. FirstService has a 12 month low of $153.13 and a 12 month high of $209.66. The firm’s 50-day moving average is $191.27 and its 200 day moving average is $183.97. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.73 and a quick ratio of 1.76.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.76. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 EPS. On average, research analysts anticipate that FirstService will post 5.27 EPS for the current year.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a $0.275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. FirstService’s payout ratio is currently 36.42%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in FirstService by 100.8% in the second quarter. Mackenzie Financial Corp now owns 1,475,463 shares of the financial services provider’s stock valued at $257,634,000 after acquiring an additional 740,583 shares in the last quarter. Norges Bank purchased a new stake in shares of FirstService during the 2nd quarter valued at $93,904,000. Picton Mahoney Asset Management acquired a new stake in shares of FirstService in the 2nd quarter worth $56,029,000. Orbis Allan Gray Ltd grew its stake in FirstService by 18.8% during the 1st quarter. Orbis Allan Gray Ltd now owns 1,417,190 shares of the financial services provider’s stock worth $235,183,000 after buying an additional 224,125 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in FirstService during the 1st quarter valued at about $30,523,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

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.