FirstService (TSE:FSV) Reaches New 52-Week Low on Analyst Downgrade

FirstService Co. (TSE:FSV) (NASDAQ:FSV) reached a new 52-week low during trading on Thursday after TD Securities lowered their price target on the stock from C$213.00 to C$211.00. TD Securities currently has a buy rating on the stock. FirstService traded as low as C$216.29 and last traded at C$218.17, with a volume of 66129 shares traded. The stock had previously closed at C$218.73.

Separately, Scotiabank raised FirstService from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average target price of C$211.00.

Insider Transactions at FirstService

In related news, Director Erin Joy Wallace sold 3,000 shares of FirstService stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$275.74, for a total value of C$827,214.00. Following the sale, the director owned 10,000 shares of the company’s stock, valued at approximately C$2,757,380. This trade represents a 23.08% decrease in their position. Corporate insiders own 10.26% of the company’s stock.

FirstService Price Performance

The company has a 50 day moving average of C$260.02 and a 200-day moving average of C$253.45. The firm has a market capitalization of C$9.97 billion, a P/E ratio of 72.00, a P/E/G ratio of 107.75 and a beta of 0.96. The company has a current ratio of 1.81, a quick ratio of 1.25 and a debt-to-equity ratio of 136.54.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.5%. FirstService’s dividend payout ratio is presently 35.48%.

FirstService Company Profile

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company’s revenue.