Scotiabank Increases FirstService (NASDAQ:FSV) Price Target to $200.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective lifted by stock analysts at Scotiabank from $190.00 to $200.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s target price suggests a potential upside of 8.18% from the stock’s previous close.

Several other brokerages have also commented on FSV. Royal Bank of Canada boosted their price objective on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. TD Securities raised their price objective on shares of FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.17.

FirstService Stock Up 0.0 %

FirstService stock traded up $0.09 during midday trading on Tuesday, hitting $184.87. 7,736 shares of the stock were exchanged, compared to its average volume of 83,315. FirstService has a 52-week low of $134.77 and a 52-week high of $187.52. The business’s 50-day moving average price is $177.85 and its 200-day moving average price is $162.89. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 91.52 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The business’s revenue was up 15.9% on a year-over-year basis. On average, research analysts expect that FirstService will post 4.35 EPS for the current fiscal year.

Hedge Funds Weigh In On FirstService

Hedge funds and other institutional investors have recently modified their holdings of the company. Toronto Dominion Bank boosted its stake in shares of FirstService by 68.0% during the 1st quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock worth $11,416,000 after acquiring an additional 27,871 shares during the last quarter. Norden Group LLC purchased a new stake in FirstService in the 1st quarter worth $862,000. Goldman Sachs Group Inc. lifted its position in shares of FirstService by 245.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after acquiring an additional 240,303 shares in the last quarter. Amica Mutual Insurance Co. grew its position in shares of FirstService by 99.9% during the second quarter. Amica Mutual Insurance Co. now owns 9,908 shares of the financial services provider’s stock worth $1,510,000 after purchasing an additional 4,952 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in FirstService by 103.1% during the 1st quarter. BNP Paribas Financial Markets now owns 15,790 shares of the financial services provider’s stock valued at $2,618,000 after purchasing an additional 8,017 shares during the period. 69.35% of the stock is owned by 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.