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

Shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $184.20.

Several equities analysts have recently issued reports on FSV shares. Scotiabank set a $170.00 price target on FirstService in a research note on Friday, July 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of FirstService in a research report on Wednesday, August 26th. TD boosted their price objective on FirstService from $204.00 to $207.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. Finally, Wall Street Zen lowered shares of FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st.

Hedge Funds Weigh In On FirstService

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new stake in FirstService during the 2nd quarter worth $220,000. Nykredit A S acquired a new position in shares of FirstService in the 2nd quarter valued at $1,585,000. Corient Private Wealth LP acquired a new position in shares of FirstService in the 2nd quarter valued at $885,000. TD Waterhouse Canada Inc. boosted its position in shares of FirstService by 13.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 66,437 shares of the financial services provider’s stock worth $9,519,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. boosted its position in shares of FirstService by 35.8% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 19,967 shares of the financial services provider’s stock worth $2,843,000 after purchasing an additional 5,267 shares during the last quarter. 69.35% of the stock is owned by institutional investors.

FirstService Stock Performance

FSV stock opened at $137.78 on Thursday. The company has a 50 day moving average price of $142.36 and a 200 day moving average price of $141.43. FirstService has a fifty-two week low of $119.41 and a fifty-two week high of $208.75. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market capitalization of $6.02 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 3.05 and a beta of 0.93.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.71 EPS. Analysts forecast that FirstService will post 5.61 EPS for the current year.

About FirstService

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.