TD Securities Raises FirstService (NASDAQ:FSV) Price Target to $179.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its target price lifted by TD Securities from $178.00 to $179.00 in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on FSV. Scotiabank increased their price target on shares of FirstService from $175.00 to $190.00 and gave the stock a sector perform rating in a report on Monday, July 29th. BMO Capital Markets raised their price target on FirstService from $193.00 to $196.00 and gave the company an outperform rating in a report on Friday, June 7th. Finally, Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the company an outperform rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $189.50.

FirstService Stock Performance

Shares of FSV opened at $182.07 on Wednesday. The company’s 50 day simple moving average is $170.90 and its 200-day simple moving average is $160.65. The firm has a market cap of $8.20 billion, a PE ratio of 90.13 and a beta of 1.05. FirstService has a 12-month low of $134.77 and a 12-month high of $182.29. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.10. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. As a group, equities analysts predict that FirstService will post 4.32 EPS for the current year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, September 30th. FirstService’s payout ratio is 49.51%.

Institutional Trading of FirstService

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in FirstService in the 4th quarter worth about $40,000. BNP Paribas Financial Markets boosted its position in shares of FirstService by 240.9% in the fourth quarter. BNP Paribas Financial Markets now owns 7,773 shares of the financial services provider’s stock worth $1,260,000 after acquiring an additional 5,493 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in FirstService by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 158,577 shares of the financial services provider’s stock valued at $25,704,000 after purchasing an additional 2,106 shares during the period. Montrusco Bolton Investments Inc. raised its stake in FirstService by 2.9% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 71,535 shares of the financial services provider’s stock worth $11,645,000 after purchasing an additional 2,049 shares during the period. Finally, Norges Bank acquired a new position in shares of FirstService in the 4th quarter valued at $82,488,000. 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.