FirstService Corp. (FSV) Coverage Initiated by Analysts at Royal Bank Of Canada
Royal Bank Of Canada began coverage on shares of FirstService Corp. (NASDAQ:FSV) in a research report report published on Tuesday morning. The brokerage issued an outperform rating and a $56.00 price objective on the stock.
Several other equities research analysts have also issued reports on FSV. Raymond James Financial Inc. lowered FirstService Corp. from an outperform rating to a market perform rating in a research note on Tuesday, June 7th. Zacks Investment Research lowered FirstService Corp. from a strong-buy rating to a hold rating in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $45.67.
FirstService Corp. (NASDAQ:FSV) traded up 0.91% during midday trading on Tuesday, hitting $48.60. The company’s stock had a trading volume of 1,454 shares. FirstService Corp. has a 52-week low of $31.37 and a 52-week high of $53.15. The stock has a 50 day moving average of $49.33 and a 200 day moving average of $45.46. The company has a market cap of $1.75 billion, a PE ratio of 62.15 and a beta of 0.57.
FirstService Corp. (NASDAQ:FSV) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. The company earned $385.10 million during the quarter, compared to analyst estimates of $386.29 million. FirstService Corp. had a return on equity of 19.20% and a net margin of 2.09%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. On average, equities analysts expect that FirstService Corp. will post $1.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, September 30th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, September 28th. FirstService Corp.’s payout ratio is 56.41%.
Several hedge funds and other institutional investors have recently made changes to their positions in FSV. Sterling Capital Management LLC increased its position in shares of FirstService Corp. by 1.9% in the second quarter. Sterling Capital Management LLC now owns 8,472 shares of the company’s stock worth $388,000 after buying an additional 159 shares during the last quarter. Toronto Dominion Bank raised its stake in FirstService Corp. by 2.0% in the second quarter. Toronto Dominion Bank now owns 41,236 shares of the company’s stock worth $1,886,000 after buying an additional 806 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in FirstService Corp. during the second quarter worth $227,000. Jacobson & Schmitt Advisors LLC raised its stake in FirstService Corp. by 0.8% in the second quarter. Jacobson & Schmitt Advisors LLC now owns 103,764 shares of the company’s stock worth $4,756,000 after buying an additional 804 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in FirstService Corp. during the second quarter worth $8,952,000. 55.07% of the stock is owned by hedge funds and other institutional investors.
FirstService Corp. Company Profile
FirstService Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company’s operations are conducted in two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides a range of ancillary services primarily in various areas, including on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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