TD Forecasts Strong Price Appreciation for FirstService (NASDAQ:FSV) Stock

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target lifted by stock analysts at TD from $201.00 to $204.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s target price points to a potential upside of 38.80% from the stock’s previous close.

FSV has been the subject of a number of other reports. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $202.00 price objective on shares of FirstService in a report on Thursday, February 5th. Scotiabank dropped their price objective on shares of FirstService from $205.00 to $190.00 and set a “sector outperform” rating for the company in a report on Friday. TD Securities set a $204.00 price target on shares of FirstService in a research note on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FirstService in a research note on Friday, March 27th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.88.

FirstService Stock Performance

FirstService stock traded down $2.19 during mid-day trading on Friday, reaching $146.97. The company’s stock had a trading volume of 104,944 shares, compared to its average volume of 207,184. The firm’s fifty day moving average price is $146.72 and its two-hundred day moving average price is $155.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.73 and a current ratio of 1.73. FirstService has a 12-month low of $133.42 and a 12-month high of $209.66. The company has a market capitalization of $6.76 billion, a P/E ratio of 46.58, a PEG ratio of 4.01 and a beta of 1.09.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a net margin of 2.64% and a return on equity of 18.69%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned $1.34 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that FirstService will post 5.73 EPS for the current fiscal year.

Institutional Investors Weigh In On FirstService

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSV. Goldman Sachs Group Inc. increased its holdings in FirstService by 79.5% in the first 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 during 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 purchasing an additional 17,072 shares during the last quarter. Strs Ohio bought a new stake in FirstService in the first quarter valued at about $38,000. Cetera Investment Advisers increased its holdings in FirstService by 55.3% in the second quarter. Cetera Investment Advisers now owns 2,599 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 925 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 69.35% of the company’s stock.

FirstService Company Profile

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.