FirstService (NASDAQ:FSV) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a buy rating to a hold rating in a report published on Saturday.

A number of other equities analysts have also recently issued reports on the stock. TD Cowen reiterated a “buy” rating and issued a $204.00 price target on shares of FirstService in a research note on Wednesday, June 3rd. BMO Capital Markets reduced their price objective on shares of FirstService from $199.00 to $192.00 and set an “outperform” rating for the company in a research note on Friday, July 24th. Loop Capital began coverage on shares of FirstService in a report on Monday, May 4th. They issued a “hold” rating and a $140.00 target price for the company. TD Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of FirstService in a report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $144.00 target price on shares of FirstService in a research note on Friday, July 24th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, FirstService has an average rating of “Moderate Buy” and an average target price of $184.20.

FirstService Stock Down 2.5%

FSV stock opened at $140.89 on Friday. The business has a 50 day moving average of $140.60 and a 200 day moving average of $144.92. The firm has a market cap of $6.48 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 3.12 and a beta of 0.94. FirstService has a twelve month low of $119.41 and a twelve month high of $209.66. The company has a quick ratio of 1.66, a current ratio of 1.58 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that FirstService will post 5.61 EPS for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Tuesday, June 30th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.9%. FirstService’s dividend payout ratio (DPR) is 34.56%.

Hedge Funds Weigh In On FirstService

A number of hedge funds have recently bought and sold shares of FSV. JPL Wealth Management LLC purchased a new stake in shares of FirstService during the 3rd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of FirstService by 88.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 79 shares during the period. Kestra Advisory Services LLC purchased a new stake in FirstService in the fourth quarter worth approximately $34,000. Finally, Strs Ohio bought a new stake in FirstService in the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.

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.