Brokerages Set FirstService Corporation (NASDAQ:FSV) PT at $211.67

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $211.6667.

Several brokerages have commented on FSV. Weiss Ratings reissued a “hold (c+)” rating on shares of FirstService in a research report on Monday, December 22nd. TD Securities reissued a “buy” rating and set a $217.00 target price on shares of FirstService in a research note on Thursday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $202.00 price target on shares of FirstService in a research report on Thursday, February 5th.

Institutional Investors Weigh In On FirstService

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of FirstService by 79.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 318,648 shares of the financial services provider’s stock valued at $52,880,000 after purchasing an additional 141,152 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in FirstService by 40.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 59,389 shares of the financial services provider’s stock valued at $9,856,000 after buying an additional 17,072 shares during the last quarter. Strs Ohio purchased a new position in FirstService in the first quarter valued at $38,000. Allianz Asset Management GmbH raised its stake in FirstService by 94.1% in the second quarter. Allianz Asset Management GmbH now owns 11,229 shares of the financial services provider’s stock valued at $1,954,000 after buying an additional 5,445 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in FirstService by 0.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,092 shares of the financial services provider’s stock worth $1,051,000 after buying an additional 52 shares during the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Stock Performance

Shares of FirstService stock opened at $158.31 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.73 and a quick ratio of 1.77. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 50.10, a price-to-earnings-growth ratio of 4.16 and a beta of 1.06. The business has a 50-day moving average of $157.19 and a 200 day moving average of $170.55. FirstService has a 12 month low of $147.23 and a 12 month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.05. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 earnings per share. As a group, sell-side analysts forecast that FirstService will post 5.27 earnings per share for the current year.

FirstService Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 7th. Investors of record on Tuesday, March 31st will be issued a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 0.8%. This is a positive change from FirstService’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, March 31st. FirstService’s dividend payout ratio is 34.81%.

About FirstService

FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.

FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.