FirstService (FSV) Earns “Market Perform” Rating from Raymond James

Raymond James reaffirmed their market perform rating on shares of FirstService (NASDAQ:FSV) (TSE:FSV) in a report released on Friday. They currently have a $84.00 price target on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of FirstService from a sell rating to a hold rating in a research note on Monday, November 19th. ValuEngine cut shares of FirstService from a buy rating to a hold rating in a report on Tuesday, December 11th. Finally, BidaskClub upgraded shares of FirstService from a sell rating to a hold rating in a report on Thursday, November 8th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $84.00.

NASDAQ:FSV opened at $84.71 on Friday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.44 and a current ratio of 1.38. The stock has a market capitalization of $2.94 billion, a P/E ratio of 47.06 and a beta of 0.99. FirstService has a one year low of $62.90 and a one year high of $90.21.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, February 6th. The financial services provider reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.31). The company had revenue of $503.31 million for the quarter, compared to the consensus estimate of $481.54 million. FirstService had a net margin of 3.41% and a return on equity of 31.55%. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. As a group, equities research analysts predict that FirstService will post 1.91 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 28th. This is a positive change from FirstService’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 0.71%. FirstService’s payout ratio is currently 30.00%.

A number of hedge funds and other institutional investors have recently bought and sold shares of FSV. Zurcher Kantonalbank Zurich Cantonalbank increased its position in FirstService by 14.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,163 shares of the financial services provider’s stock valued at $148,000 after acquiring an additional 268 shares during the period. Legal & General Group Plc raised its holdings in shares of FirstService by 8.2% in the third quarter. Legal & General Group Plc now owns 6,627 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 503 shares during the last quarter. Dean Capital Investments Management LLC raised its holdings in shares of FirstService by 14.8% in the fourth quarter. Dean Capital Investments Management LLC now owns 5,834 shares of the financial services provider’s stock valued at $400,000 after purchasing an additional 754 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of FirstService by 15.0% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 6,215 shares of the financial services provider’s stock valued at $426,000 after purchasing an additional 813 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in FirstService by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 115,782 shares of the financial services provider’s stock worth $8,804,000 after buying an additional 1,098 shares during the last quarter. 68.73% of the stock is owned by hedge funds and other institutional investors.

FirstService Company Profile

FirstService Corporation provides property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment manages private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.

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