FirstService (NASDAQ:FSV) Price Target Raised to $225.00 at Raymond James

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target lifted by Raymond James from $215.00 to $225.00 in a report published on Wednesday,Benzinga reports. Raymond James currently has an outperform rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the stock. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. TD Securities increased their target price on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price target on FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, Scotiabank increased their price target on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.67.

FirstService Stock Up 1.6 %

Shares of FSV opened at $185.64 on Wednesday. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 77.35 and a beta of 1.06. FirstService has a 52 week low of $141.26 and a 52 week high of $197.84. The stock’s 50-day moving average price is $185.65 and its 200-day moving average price is $180.30. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 1.13.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. On average, sell-side analysts predict that FirstService will post 4.64 EPS for the current year.

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, December 31st. FirstService’s payout ratio is 41.67%.

Hedge Funds Weigh In On FirstService

Several hedge funds and other institutional investors have recently made changes to their positions in FSV. Dimensional Fund Advisors LP raised its stake in FirstService by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 164,183 shares of the financial services provider’s stock valued at $25,017,000 after purchasing an additional 3,048 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of FirstService by 49.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock worth $63,000 after buying an additional 138 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of FirstService by 52.1% in the second quarter. Canada Pension Plan Investment Board now owns 58,380 shares of the financial services provider’s stock valued at $8,883,000 after buying an additional 20,000 shares during the last quarter. Sei Investments Co. lifted its stake in shares of FirstService by 160.3% in the second quarter. Sei Investments Co. now owns 6,181 shares of the financial services provider’s stock worth $942,000 after buying an additional 3,806 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in FirstService by 3.7% during the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after acquiring an additional 143 shares during the last quarter. Hedge funds and other 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.