Brokerages Set FirstService Co. (NASDAQ:FSV) Target Price at $189.50

FirstService Co. (NASDAQ:FSV) (TSE:FSV) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and five 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 $189.50.

FSV has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. TD Securities upped their price objective on shares of FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. BMO Capital Markets upped their price objective on shares of FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Scotiabank upped their price objective on shares of FirstService from $175.00 to $190.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th.

Institutional Investors Weigh In On FirstService

A number of hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of FirstService by 6.8% in the second quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after purchasing an additional 174,970 shares during the period. Vanguard Group Inc. increased its position in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after acquiring an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of FirstService by 3.2% during the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after acquiring an additional 44,236 shares during the last quarter. William Blair Investment Management LLC lifted its stake in FirstService by 0.8% during the second quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock worth $131,323,000 after purchasing an additional 6,863 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in FirstService by 3.4% during the second quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock worth $98,033,000 after purchasing an additional 21,100 shares in the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

FSV opened at $182.31 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a fifty day moving average price of $175.90 and a 200 day moving average price of $161.86. FirstService has a 1 year low of $134.77 and a 1 year high of $183.86. The stock has a market cap of $8.20 billion, a P/E ratio of 90.25 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.37 earnings per share. Equities research analysts anticipate that FirstService will post 4.35 earnings per share for the current year.

FirstService Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, September 30th. FirstService’s payout ratio is 49.50%.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.