FirstService (NASDAQ:FSV) Price Target Increased to $178.00 by Analysts at TD Securities

FirstService (NASDAQ:FSV) (TSE:FSV) had its target price raised by TD Securities from $174.00 to $178.00 in a report published on Monday, BayStreet.CA reports. The firm currently has a hold rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets upped their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an outperform rating in a research report on Friday, June 7th. Royal Bank of Canada upped their price objective on shares of FirstService from $187.00 to $192.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, Scotiabank upped their price objective on shares of FirstService from $175.00 to $190.00 and gave the company a sector perform rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $189.33.

FirstService Stock Down 0.6 %

Shares of NASDAQ FSV opened at $173.54 on Monday. FirstService has a 12-month low of $134.77 and a 12-month high of $177.46. The company has a market cap of $7.80 billion, a P/E ratio of 85.91 and a beta of 1.04. The company has a current ratio of 1.78, a quick ratio of 2.00 and a debt-to-equity ratio of 1.23. The stock has a fifty day moving average price of $155.59 and a 200 day moving average price of $158.59.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $1.37 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Research analysts anticipate that FirstService will post 4.32 EPS for the current fiscal year.

FirstService Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 28th were given a dividend of $0.25 per share. The ex-dividend date was Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 0.58%. FirstService’s payout ratio is 49.51%.

Hedge Funds Weigh In On FirstService

Large investors have recently modified their holdings of the stock. Quotient Wealth Partners LLC bought a new position in shares of FirstService during the fourth quarter worth about $909,000. TD Asset Management Inc raised its stake in FirstService by 8.9% during the fourth quarter. TD Asset Management Inc now owns 250,577 shares of the financial services provider’s stock worth $40,739,000 after acquiring an additional 20,397 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in FirstService during the fourth quarter worth about $2,868,000. Raymond James & Associates raised its stake in FirstService by 6.2% during the fourth quarter. Raymond James & Associates now owns 118,713 shares of the financial services provider’s stock worth $19,242,000 after acquiring an additional 6,895 shares during the period. Finally, Toronto Dominion Bank raised its stake in FirstService by 68.0% during the first 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 period. Institutional investors own 69.35% of the company’s stock.

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.