Raymond James Raises FirstService (NASDAQ:FSV) Price Target to $225.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its target price hoisted by Raymond James from $215.00 to $225.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

FSV has been the subject of several other research reports. StockNews.com upgraded shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Scotiabank raised their price objective on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Stifel Nicolaus lifted their target price on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, TD Securities upped their target price on FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Trading Up 0.3 %

NASDAQ:FSV opened at $185.45 on Wednesday. FirstService has a 1 year low of $141.26 and a 1 year high of $197.84. The stock has a market cap of $8.40 billion, a P/E ratio of 77.27 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a 50-day simple moving average of $185.63 and a 200-day simple moving average of $180.55.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the company posted $1.18 earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts anticipate that FirstService will post 4.64 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Tuesday, December 31st. FirstService’s dividend payout ratio is currently 41.67%.

Institutional Trading of FirstService

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc acquired a new position in shares of FirstService in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new position in FirstService in the 4th quarter valued at $46,000. Wilmington Savings Fund Society FSB acquired a new position in FirstService in the 3rd quarter valued at $53,000. Benjamin F. Edwards & Company Inc. raised its position in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after buying an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in shares of FirstService in the 3rd quarter worth $66,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

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.