FirstService (FSV) Downgraded to Sell at BidaskClub

FirstService (NASDAQ:FSV) (TSE:FSV) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other analysts also recently weighed in on FSV. Royal Bank of Canada reissued a “buy” rating and set a $71.00 target price on shares of FirstService in a research report on Wednesday, September 27th. Zacks Investment Research downgraded shares of FirstService from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Scotiabank downgraded shares of FirstService from an “outperform” rating to a “sector perform” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. FirstService currently has a consensus rating of “Hold” and a consensus price target of $69.20.

Shares of FirstService (FSV) opened at $68.01 on Friday. The firm has a market cap of $2,360.00 and a P/E ratio of 75.57. FirstService has a 12-month low of $47.60 and a 12-month high of $74.49. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.95 and a current ratio of 0.95.

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

Several hedge funds have recently added to or reduced their stakes in FSV. Legal & General Group Plc boosted its holdings in shares of FirstService by 6.0% in the 2nd 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of FirstService by 17.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,202 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 324 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of FirstService by 1,515.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 78,523 shares of the financial services provider’s stock valued at $3,612,000 after acquiring an additional 73,663 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of FirstService by 6.5% in the 2nd quarter. Alliancebernstein L.P. now owns 21,270 shares of the financial services provider’s stock valued at $1,361,000 after acquiring an additional 1,300 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of FirstService by 45.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,470 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 3,271 shares during the last quarter. 61.17% of the stock is currently owned by institutional investors and hedge funds.

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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)

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