FirstService (NASDAQ:FSV) Hits New 1-Year Low at $112.42

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

Analysts Set New Price Targets

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

FirstService Stock Performance

The firm has a fifty day moving average price of $129.03 and a 200 day moving average price of $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. The stock has a market cap of $5.07 billion, a PE ratio of 40.97 and a beta of 1.02.

FirstService (NASDAQ:FSVGet Rating) (TSE:FSV) last issued its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. FirstService had a return on equity of 15.47% and a net margin of 3.61%. The firm had revenue of $930.71 million during the quarter, compared to analyst estimates of $920.84 million. Research analysts forecast that FirstService Co. will post 4.03 earnings per share for the current fiscal year.

FirstService Announces Dividend

The company also recently announced 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. This represents a $0.81 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, September 29th. FirstService’s payout ratio is 28.62%.

Hedge Funds Weigh In On FirstService

Several hedge funds have recently made changes to their positions in FSV. Raymond James Trust N.A. grew its position in FirstService by 2.8% during the 2nd quarter. Raymond James Trust N.A. now owns 3,231 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 87 shares during the period. PDT Partners LLC grew its position in FirstService by 1.6% during the 4th quarter. PDT Partners LLC now owns 6,300 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 100 shares during the period. Lindenwold Advisors grew its position in shares of FirstService by 5.7% during the 1st quarter. Lindenwold Advisors now owns 1,932 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 105 shares during the period. US Bancorp DE grew its position in shares of FirstService by 4.9% during the 2nd quarter. US Bancorp DE now owns 2,613 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 121 shares during the period. Finally, Crossmark Global Holdings Inc. grew its position in shares of FirstService by 1.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,538 shares of the financial services provider’s stock valued at $914,000 after acquiring an additional 134 shares during the period. 64.18% of the stock is owned by institutional investors and hedge funds.

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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