FirstService Corporation (NASDAQ:FSV) Receives Consensus Rating of “Moderate Buy” from Brokerages

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $211.8333.

A number of research analysts have commented on FSV shares. CIBC cut their target price on shares of FirstService from $225.00 to $216.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Raymond James Financial cut their price objective on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research note on Monday, December 22nd. Scotiabank raised 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. Finally, BMO Capital Markets set a $209.00 price target on FirstService and gave the company an “outperform” rating in a report on Friday, October 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FSV. JPL Wealth Management LLC purchased a new stake in FirstService during the third quarter valued at approximately $26,000. Geneos Wealth Management Inc. increased its position in shares of FirstService by 63.7% during the second 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. Strs Ohio purchased a new stake in shares of FirstService during the 1st quarter valued at $38,000. EverSource Wealth Advisors LLC boosted its position in shares of FirstService by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 292 shares in the last quarter. Finally, Spire Wealth Management grew its stake in FirstService by 300.0% during the 3rd quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock worth $76,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company’s stock.

FirstService Stock Performance

Shares of FirstService stock opened at $157.49 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average price is $155.87 and its 200-day moving average price is $175.35. The firm has a market cap of $7.20 billion, a P/E ratio of 52.15, a P/E/G ratio of 2.79 and a beta of 1.06. FirstService has a 12 month low of $147.23 and a 12 month high of $209.66.

FirstService Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 7th. Shareholders of record on Wednesday, December 31st were issued a $0.275 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.10 dividend on an annualized basis and a yield of 0.7%. FirstService’s payout ratio is currently 36.42%.

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.