TD Securities Cuts FirstService (NASDAQ:FSV) Price Target to $211.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective cut by TD Securities from $213.00 to $211.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on FSV. Zacks Research downgraded FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Raymond James Financial cut their price objective on FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. BMO Capital Markets set a $209.00 target price on FirstService and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, Scotiabank upgraded FirstService from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $220.00 to $205.00 in a research report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.83.

FirstService Stock Performance

Shares of FirstService stock opened at $151.41 on Wednesday. The company has a 50 day moving average price of $185.01 and a 200 day moving average price of $183.13. The firm has a market capitalization of $6.92 billion, a P/E ratio of 50.14 and a beta of 0.99. The company has a quick ratio of 1.76, a current ratio of 1.73 and a debt-to-equity ratio of 0.90. FirstService has a 52 week low of $151.33 and a 52 week high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.76. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. FirstService had a net margin of 2.53% and a return on equity of 17.98%. FirstService’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. Sell-side analysts expect that FirstService will post 5.27 EPS for the current year.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Tuesday, September 30th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 30th. FirstService’s dividend payout ratio (DPR) is 36.42%.

Institutional Trading of FirstService

Several hedge funds have recently made changes to their positions in FSV. DekaBank Deutsche Girozentrale boosted its holdings in shares of FirstService by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,092 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 52 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in FirstService by 0.6% in the second quarter. Harbor Capital Advisors Inc. now owns 9,547 shares of the financial services provider’s stock valued at $1,667,000 after purchasing an additional 59 shares during the period. State of Wyoming lifted its position in FirstService by 11.1% in the first quarter. State of Wyoming now owns 621 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 62 shares during the period. Allianz Asset Management GmbH boosted its holdings in FirstService by 1.3% in the 1st quarter. Allianz Asset Management GmbH now owns 5,784 shares of the financial services provider’s stock valued at $959,000 after purchasing an additional 76 shares in the last quarter. Finally, 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 during the period. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.