FirstService Corporation (NASDAQ:FSV) Short Interest Update

FirstService Corporation (NASDAQ:FSV – Get Free Report) (TSE:FSV) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 835,655 shares, a drop of 56.3% from the August 31st total of 1,912,255 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 203,927 shares, the short-interest ratio is presently 4.1 days.

FirstService Stock Performance

Shares of FSV traded up $0.20 on Monday, reaching $128.81. 77,613 shares of the stock traded hands, compared to its average volume of 218,170. FirstService has a 12 month low of $119.41 and a 12 month high of $191.70. The firm has a market cap of $5.63 billion, a price-to-earnings ratio of 36.44, a P/E/G ratio of 2.85 and a beta of 0.93. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. The stock’s 50-day moving average price is $139.57 and its 200-day moving average price is $139.79.

FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.71 by $0.04. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.FirstService’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.71 EPS. Equities analysts forecast that FirstService will post 5.61 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th will be paid a $0.3050 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.9%. FirstService’s payout ratio is currently 34.56%.

Institutional Investors Weigh In On FirstService

Several hedge funds and other institutional investors have recently made changes to their positions in FSV. Bessemer Group Inc. raised its stake in shares of FirstService by 52.2% during the first quarter. Bessemer Group Inc. now owns 191,970 shares of the financial services provider’s stock worth $26,672,000 after buying an additional 65,830 shares during the last quarter. Bank of America Corp DE lifted its holdings in FirstService by 8.2% during the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock worth $33,390,000 after acquiring an additional 18,146 shares in the last quarter. Sei Investments Co. grew its position in shares of FirstService by 59.2% in the 1st quarter. Sei Investments Co. now owns 63,388 shares of the financial services provider’s stock valued at $8,806,000 after purchasing an additional 23,577 shares during the period. Swiss National Bank boosted its holdings in shares of FirstService by 27.5% in the first quarter. Swiss National Bank now owns 138,500 shares of the financial services provider’s stock valued at $19,239,000 after buying an additional 29,900 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in FirstService by 13.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 66,437 shares of the financial services provider’s stock worth $9,519,000 after purchasing an additional 8,084 shares during the period. 69.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FSV shares. TD lifted their target price on shares of FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Scotiabank set a $170.00 target price on FirstService in a research report on Friday, July 24th. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $144.00 target price on shares of FirstService in a report on Friday, July 24th. Finally, TD Cowen restated a “buy” rating and set a $204.00 price target on shares of FirstService in a report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.20.

Read Our Latest Report on FSV

About FirstService

(Get Free Report)

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.

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