FY2024 EPS Estimates for FirstService Raised by Scotiabank

FirstService Co. (NASDAQ:FSV) (TSE:FSV) – Stock analysts at Scotiabank upped their FY2024 earnings per share (EPS) estimates for shares of FirstService in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst H. Gupta now forecasts that the financial services provider will post earnings per share of $4.64 for the year, up from their prior estimate of $4.36. Scotiabank has a “Sector Perform” rating and a $200.00 price objective on the stock. The consensus estimate for FirstService’s current full-year earnings is $4.58 per share. Scotiabank also issued estimates for FirstService’s FY2025 earnings at $5.38 EPS.

Several other brokerages have also recently weighed in on FSV. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. TD Securities lifted their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Stifel Nicolaus raised their price objective on FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $198.33.

FirstService Stock Down 0.3 %

Shares of NASDAQ:FSV opened at $177.49 on Friday. FirstService has a 52 week low of $141.26 and a 52 week high of $197.84. The company has a market capitalization of $8.03 billion, a PE ratio of 73.95 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The company’s fifty day moving average is $187.13 and its 200-day moving average is $178.44.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.18 EPS.

Institutional Trading of FirstService

A number of large investors have recently bought and sold shares of the company. Versant Capital Management Inc purchased a new position in shares of FirstService during the fourth quarter worth about $29,000. Benjamin Edwards Inc. increased its holdings in shares of FirstService by 35.0% in the second quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock worth $53,000 after buying an additional 91 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in FirstService in the third quarter valued at approximately $53,000. Benjamin F. Edwards & Company Inc. raised its holdings in FirstService by 49.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of FirstService during the third quarter worth about $66,000. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, December 31st. FirstService’s dividend payout ratio is 41.67%.

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.