FirstService’s (FSV) Buy Rating Reiterated at TD Cowen

FirstService (NASDAQ:FSV) (TSE:FSV)‘s stock had its “buy” rating restated by equities researchers at TD Cowen in a report released on Wednesday,Benzinga reports. They presently have a $204.00 target price on the financial services provider’s stock. TD Cowen’s price target would indicate a potential upside of 49.56% from the company’s current price.

A number of other equities analysts also recently commented on the stock. TD Securities set a $204.00 price objective on shares of FirstService in a report on Friday, April 24th. TD lifted their price objective on shares of FirstService from $201.00 to $204.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of FirstService from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday. Scotiabank decreased their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a report on Friday, April 24th. Finally, Wall Street Zen raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, FirstService presently has a consensus rating of “Moderate Buy” and an average target price of $197.22.

FirstService Stock Performance

FirstService stock traded down $1.85 during mid-day trading on Wednesday, reaching $136.40. The company’s stock had a trading volume of 64,258 shares, compared to its average volume of 221,256. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 4.08 and a beta of 0.95. The business has a 50 day moving average price of $138.39 and a 200-day moving average price of $148.87. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.74. FirstService has a twelve month low of $119.41 and a twelve month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. FirstService had a net margin of 2.92% and a return on equity of 17.91%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. Sell-side analysts predict that FirstService will post 5.54 EPS for the current fiscal year.

Hedge Funds Weigh In On FirstService

Several hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA boosted its holdings in shares of FirstService by 32.8% during the first quarter. Glenmede Trust Co. NA now owns 5,585 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 1,378 shares during the period. Summitry LLC raised its stake in shares of FirstService by 44.9% during the first quarter. Summitry LLC now owns 2,670 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 827 shares in the last quarter. Argent Capital Management LLC raised its stake in shares of FirstService by 52.0% during the first quarter. Argent Capital Management LLC now owns 50,787 shares of the financial services provider’s stock valued at $7,056,000 after purchasing an additional 17,377 shares in the last quarter. Turtle Creek Asset Management Inc. bought a new stake in shares of FirstService during the first quarter valued at about $1,723,000. Finally, Bank of America Corp DE raised its stake in shares of FirstService by 8.2% during the first quarter. Bank of America Corp DE now owns 240,316 shares of the financial services provider’s stock valued at $33,390,000 after purchasing an additional 18,146 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

About FirstService

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.