FirstService Corporation (NASDAQ:FSV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $207.8571.

FSV has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of FirstService in a report on Friday, March 27th. Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday. TD Securities cut their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. TD Cowen cut their price objective on shares of FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th.

FirstService Price Performance

NASDAQ:FSV opened at $152.26 on Monday. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 48.18, a price-to-earnings-growth ratio of 4.08 and a beta of 1.09. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average is $147.49 and its two-hundred day moving average is $156.21. FirstService has a 12-month low of $133.42 and a 12-month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released 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 company had revenue of $1.38 billion for 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%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.34 EPS. Research analysts expect that FirstService will post 5.27 EPS for the current year.

FirstService Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 7th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 31st. This is an increase from FirstService’s previous quarterly dividend of $0.28. FirstService’s payout ratio is currently 38.61%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FSV. Truist Financial Corp increased its position in FirstService by 0.9% during the 4th quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 77 shares in the last quarter. Evergreen Capital Management LLC increased its position in FirstService by 5.6% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 77 shares in the last quarter. Geneos Wealth Management Inc. increased its position in FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its position in FirstService by 1.1% during the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after purchasing an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

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.