FirstService (FSV) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of FirstService (NASDAQ:FSV) (TSE:FSV) from a strong-buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “FirstService Corporation offers property services to commercial, institutional and residential customers primarily in North America and internationally. Its operating segment consists of Commercial Real Estate Services, Residential Real Estate Services and Property Services. FirstService Corporation is headquartered in Toronto, Canada. “

A number of other equities research analysts also recently weighed in on FSV. BidaskClub raised FirstService from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. William Blair downgraded FirstService from an outperform rating to a market perform rating in a research note on Wednesday, September 13th. Royal Bank of Canada reaffirmed a buy rating and issued a $71.00 price target on shares of FirstService in a research note on Wednesday, September 27th. Finally, Scotiabank downgraded FirstService from an outperform rating to a sector perform rating in a research note on Thursday, October 26th. Eight analysts have rated the stock with a hold rating, FirstService presently has an average rating of Hold and an average target price of $69.20.

FirstService (FSV) opened at $68.60 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.51. FirstService has a 52 week low of $46.98 and a 52 week high of $74.49. The firm has a market cap of $2,446.65, a price-to-earnings ratio of 55.32 and a beta of 0.80.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.24. FirstService had a net margin of 2.74% and a return on equity of 24.16%. The firm had revenue of $456.50 million during the quarter, compared to analysts’ expectations of $449.26 million. During the same period in the previous year, the business posted $0.62 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. research analysts anticipate that FirstService will post 1.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 29th will be given a $0.1225 dividend. This represents a $0.49 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, December 28th. FirstService’s dividend payout ratio is presently 39.52%.

Several large investors have recently added to or reduced their stakes in FSV. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of FirstService by 17.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 324 shares during the last quarter. Highstreet Asset Management Inc. boosted its holdings in FirstService by 611.1% in the third quarter. Highstreet Asset Management Inc. now owns 2,553 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 2,194 shares during the last quarter. Orgel Wealth Management LLC bought a new stake in FirstService in the second quarter valued at approximately $211,000. Legal & General Group Plc boosted its holdings in FirstService by 6.0% in the second quarter. Legal & General Group Plc now owns 3,487 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 198 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in FirstService in the second quarter valued at approximately $308,000. Institutional investors own 61.17% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first published by Community Financial News and is owned by of Community Financial News. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.com-unik.info/2017/12/27/firstservice-fsv-lowered-to-hold-at-zacks-investment-research.html.

FirstService Company Profile

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

Analyst Recommendations for FirstService (NASDAQ:FSV)

What are top analysts saying about FirstService? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for FirstService and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit