Brokerages Set FirstService Corporation (NASDAQ:FSV) Price Target at $211.67

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $211.6667.

A number of brokerages have recently weighed in on FSV. TD Securities reaffirmed a “buy” rating and issued a $217.00 price target on shares of FirstService in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Wall Street Zen upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th.

FirstService Price Performance

Shares of FSV opened at $137.76 on Thursday. FirstService has a one year low of $133.42 and a one year high of $209.66. The stock’s fifty day moving average is $153.00 and its 200-day moving average is $163.11. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 43.59, a price-to-earnings-growth ratio of 3.66 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. FirstService’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 EPS. Equities analysts anticipate that FirstService will post 5.27 EPS for the current year.

FirstService Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. This is a positive change from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, March 31st. FirstService’s payout ratio is currently 34.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FSV. Captrust Financial Advisors boosted its stake in shares of FirstService by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 247,931 shares of the financial services provider’s stock worth $47,228,000 after acquiring an additional 7,136 shares in the last quarter. Geode Capital Management LLC raised its position in shares of FirstService by 12.0% during the second quarter. Geode Capital Management LLC now owns 433,759 shares of the financial services provider’s stock worth $79,231,000 after purchasing an additional 46,333 shares during the period. Creative Planning raised its position in shares of FirstService by 26.7% during the second quarter. Creative Planning now owns 11,019 shares of the financial services provider’s stock worth $1,924,000 after purchasing an additional 2,322 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of FirstService by 2.0% during the second quarter. JPMorgan Chase & Co. now owns 275,849 shares of the financial services provider’s stock valued at $48,169,000 after purchasing an additional 5,339 shares during the last quarter. Finally, Fenimore Asset Management Inc boosted its position in shares of FirstService by 44.1% in the 3rd quarter. Fenimore Asset Management Inc now owns 144,633 shares of the financial services provider’s stock valued at $27,551,000 after purchasing an additional 44,272 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

FirstService Company Profile

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.