Scotiabank Issues Pessimistic Forecast for FirstService (NASDAQ:FSV) Stock Price

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective decreased by stock analysts at Scotiabank from $205.00 to $190.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 29.28% from the stock’s current price.

A number of other research analysts also recently commented on FSV. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $202.00 price target on shares of FirstService in a research note on Thursday, February 5th. TD Cowen dropped their price target on FirstService from $217.00 to $201.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings reissued a “hold (c)” rating on shares of FirstService in a research note on Friday, March 27th. Finally, TD Securities set a $204.00 target price on FirstService in a research note on Friday. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.88.

FirstService Price Performance

FSV stock traded down $2.19 during midday trading on Friday, reaching $146.97. The company had a trading volume of 104,944 shares, compared to its average volume of 207,184. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 46.58, a price-to-earnings-growth ratio of 4.01 and a beta of 1.09. The stock has a 50 day moving average price of $146.72 and a 200-day moving average price of $155.56. FirstService has a 1-year low of $133.42 and a 1-year high of $209.66. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.73.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. FirstService had a return on equity of 18.69% and a net margin of 2.64%.FirstService’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Equities research analysts expect that FirstService will post 5.73 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Truist Financial Corp increased its stake in shares of FirstService by 0.9% in the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock valued at $1,383,000 after buying an additional 77 shares during the period. Evergreen Capital Management LLC increased its stake in shares of FirstService by 5.6% in the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock valued at $256,000 after buying an additional 77 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after buying an additional 79 shares during the period. Parr Mcknight Wealth Management Group LLC increased its stake in shares of FirstService by 1.1% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock valued at $1,444,000 after buying an additional 81 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of FirstService by 88.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.