FirstService (NASDAQ:FSV) Reaches New 52-Week Low at $112.42

FirstService Co. (NASDAQ:FSVGet Rating) (TSE:FSV)’s stock price reached a new 52-week low during trading on Friday . The stock traded as low as $112.42 and last traded at $112.42, with a volume of 663 shares traded. The stock had previously closed at $115.95.

Wall Street Analysts Forecast Growth

Separately, TD Securities dropped their price target on shares of FirstService from $145.00 to $140.00 and set a “hold” rating for the company in a research note on Thursday, July 28th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstService has an average rating of “Hold” and a consensus target price of $172.80.

FirstService Trading Down 1.1 %

The firm has a market capitalization of $5.07 billion, a PE ratio of 40.97 and a beta of 1.02. The company’s 50-day moving average price is $129.03 and its 200-day moving average price is $128.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.52 and a current ratio of 1.52.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. FirstService had a net margin of 3.61% and a return on equity of 15.47%. The business had revenue of $930.71 million during the quarter, compared to analysts’ expectations of $920.84 million. On average, sell-side analysts expect that FirstService Co. will post 4.03 earnings per share for the current year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 30th will be given a $0.2025 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.81 dividend on an annualized basis and a yield of 0.71%. FirstService’s dividend payout ratio (DPR) is presently 28.62%.

Institutional Investors Weigh In On FirstService

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi lifted its position in FirstService by 12.2% in the second quarter. Amundi now owns 37,281 shares of the financial services provider’s stock valued at $4,664,000 after acquiring an additional 4,059 shares during the last quarter. Legal & General Group Plc lifted its position in FirstService by 0.5% in the second quarter. Legal & General Group Plc now owns 163,417 shares of the financial services provider’s stock valued at $19,780,000 after acquiring an additional 826 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of FirstService by 41.5% in the second quarter. Goldman Sachs Group Inc. now owns 63,055 shares of the financial services provider’s stock valued at $7,642,000 after buying an additional 18,489 shares during the last quarter. Waratah Capital Advisors Ltd. raised its holdings in shares of FirstService by 64.6% in the second quarter. Waratah Capital Advisors Ltd. now owns 234,714 shares of the financial services provider’s stock valued at $28,443,000 after buying an additional 92,082 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of FirstService by 10.5% in the second quarter. Thrivent Financial for Lutherans now owns 91,216 shares of the financial services provider’s stock valued at $11,056,000 after buying an additional 8,693 shares during the last quarter. 64.18% of the stock is owned by hedge funds and other institutional investors.

About FirstService

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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. The company operates in two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment offers property management 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.

Further Reading

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