FirstService Corp (NASDAQ:FSV) (TSE:FSV) has received a consensus rating of “Hold” from the eight ratings firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $107.75.
A number of equities analysts recently weighed in on the stock. TheStreet lowered shares of FirstService from a “b” rating to a “c” rating in a research note on Thursday, July 25th. Raymond James boosted their price target on shares of FirstService from $95.00 to $105.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price target on shares of FirstService to $106.00 in a research report on Friday, May 24th. Zacks Investment Research raised shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price target on the stock in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their price target on shares of FirstService from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th.
A number of institutional investors and hedge funds have recently made changes to their positions in FSV. Dimensional Fund Advisors LP grew its stake in FirstService by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 120,186 shares of the financial services provider’s stock valued at $8,230,000 after buying an additional 3,937 shares during the last quarter. Toronto Dominion Bank grew its stake in FirstService by 11.6% in the 1st quarter. Toronto Dominion Bank now owns 26,902 shares of the financial services provider’s stock valued at $2,396,000 after buying an additional 2,804 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in FirstService in the 1st quarter valued at about $6,563,000. Great West Life Assurance Co. Can grew its position in shares of FirstService by 6.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 144,241 shares of the financial services provider’s stock worth $12,812,000 after purchasing an additional 8,771 shares in the last quarter. Finally, Shell Asset Management Co. grew its position in shares of FirstService by 5.3% during the 1st quarter. Shell Asset Management Co. now owns 2,692 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 61.03% of the company’s stock.
FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.31. The firm had revenue of $573.90 million during the quarter, compared to analyst estimates of $550.77 million. FirstService had a negative net margin of 11.58% and a positive return on equity of 28.17%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. On average, research analysts forecast that FirstService will post 2.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. FirstService’s dividend payout ratio (DPR) is currently 33.33%.
FirstService Corporation, together with its subsidiaries, provides residential 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 provides property management services for 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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