Scotiabank Issues Pessimistic Forecast for FirstService (NASDAQ:FSV) Stock Price
by Tristan Rich · The Markets DailyFirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) had its price target cut by equities researchers at Scotiabank from $205.00 to $190.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a “sector outperform” rating on the financial services provider’s stock. Scotiabank’s target price would indicate a potential upside of 29.28% from the stock’s previous close.
Several other analysts have also recently commented on FSV. Wall Street Zen cut FirstService from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. TD Securities set a $204.00 target price on FirstService in a report on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of FirstService in a report on Friday, March 27th. BMO Capital Markets reiterated an “outperform” rating and issued a $202.00 target price on shares of FirstService in a report on Thursday, February 5th. Finally, TD Cowen reduced their target price on FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.88.
Check Out Our Latest Report on FSV
FirstService Trading Down 1.5%
Shares of FirstService stock traded down $2.19 on Friday, hitting $146.97. The stock had a trading volume of 104,944 shares, compared to its average volume of 207,184. The stock has a 50 day moving average of $146.72 and a 200 day moving average of $155.56. FirstService has a twelve month low of $133.42 and a twelve month high of $209.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $6.76 billion, a P/E ratio of 46.58, a PEG ratio of 4.01 and a beta of 1.09.
FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstService had a return on equity of 18.69% and a net margin of 2.64%.The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts expect that FirstService will post 5.73 earnings per share for the current fiscal year.
Hedge Funds Weigh In On FirstService
Institutional investors and hedge funds have recently modified their holdings of the business. JPL Wealth Management LLC bought a new position in shares of FirstService during the 3rd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of FirstService by 88.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 173 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of FirstService during the 4th quarter worth approximately $34,000. Geneos Wealth Management Inc. boosted its holdings in shares of FirstService by 63.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of FirstService during the first quarter worth approximately $38,000. 69.35% of the stock is currently owned by institutional investors.
About FirstService
FirstService Corporation, founded in 1989 and headquartered in Toronto, Ontario, is a leading provider of property services in North America. The company operates through two principal segments—FirstService Residential and FirstService Brands—offering a broad range of services to residential, commercial and homeowner association clients.
FirstService Residential delivers community management, financial oversight and consulting services to thousands of residential communities across the United States and Canada.