Analysts Set FirstService Corporation (NASDAQ:FSV) Target Price at $184.20

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $184.20.

A number of research firms have weighed in on FSV. Wall Street Zen cut shares of FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. TD lifted their target price on FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th. Stifel Nicolaus cut their price target on FirstService from $215.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $175.00 price target on shares of FirstService in a report on Friday, July 24th. Finally, Weiss Ratings lowered FirstService from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th.

FirstService Price Performance

Shares of FSV stock opened at $141.57 on Friday. The company has a market capitalization of $6.22 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 3.12 and a beta of 0.93. The firm has a fifty day simple moving average of $141.86 and a 200-day simple moving average of $143.29. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. FirstService has a twelve month low of $119.41 and a twelve month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business earned $1.71 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that FirstService will post 5.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FirstService

Several institutional investors and hedge funds have recently made changes to their positions in FSV. JPL Wealth Management LLC acquired a new position in FirstService during the 3rd quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its stake in shares of FirstService by 88.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of FirstService in the 4th quarter valued at about $34,000. Geneos Wealth Management Inc. lifted its position in shares of FirstService by 63.7% during the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 79 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of FirstService during the first quarter worth about $38,000. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

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.