FirstService (NASDAQ:FSV) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $142.62 and traded as low as $140.11. FirstService shares last traded at $141.20, with a volume of 112,127 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered FirstService from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. TD Securities reaffirmed a “buy” rating and set a $195.00 target price on shares of FirstService in a research report on Friday, July 24th. TD lifted their price target on shares of FirstService from $195.00 to $203.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Scotia boosted their price objective on shares of FirstService from $170.00 to $175.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $190.00 price objective on shares of FirstService in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $179.82.

FirstService Stock Performance

The stock’s 50 day simple moving average is $135.78 and its two-hundred day simple moving average is $142.62.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.05. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same period last year, the firm earned $1.76 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts forecast that FirstService Corporation will post 5.61 EPS for the current fiscal year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilltop National Bank lifted its stake in FirstService by 4.1% during the second quarter. Hilltop National Bank now owns 2,055 shares of the financial services provider’s stock worth $292,000 after purchasing an additional 81 shares during the period. Fifth Third Bancorp grew its stake in shares of FirstService by 23.7% in the 1st quarter. Fifth Third Bancorp now owns 627 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 120 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of FirstService by 73.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 302 shares of the financial services provider’s stock worth $47,000 after buying an additional 128 shares in the last quarter. USS Investment Management Ltd raised its holdings in shares of FirstService by 1.2% in the 1st quarter. USS Investment Management Ltd now owns 14,890 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 171 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of FirstService by 27.1% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,286 shares of the financial services provider’s stock worth $292,000 after buying an additional 488 shares in the last quarter. Institutional investors own 69.35% of the company’s stock.

About FirstService

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.