TD Cowen Cuts FirstService (NASDAQ:FSV) Price Target to $201.00
by Renee Jackson · The Cerbat GemFirstService (NASDAQ:FSV – Free Report) (TSE:FSV) had its price objective cut by TD Cowen from $217.00 to $201.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.
Other research analysts have also recently issued research reports about the company. BMO Capital Markets reissued an “outperform” rating and issued a $202.00 price objective on shares of FirstService in a research report on Thursday, February 5th. TD Securities cut their price objective on FirstService from $217.00 to $201.00 and set a “buy” rating on the stock in a research report on Tuesday. Wall Street Zen raised FirstService from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of FirstService in a research note on Friday, March 27th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, FirstService has an average rating of “Moderate Buy” and a consensus target price of $207.86.
Read Our Latest Stock Analysis on FSV
FirstService Stock Down 0.1%
FSV stock opened at $149.11 on Tuesday. The stock’s fifty day simple moving average is $147.66 and its two-hundred day simple moving average is $156.93. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.79. FirstService has a 1-year low of $133.42 and a 1-year high of $209.66. The stock has a market cap of $6.86 billion, a P/E ratio of 47.19, a P/E/G ratio of 4.00 and a beta of 1.09.
FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.37 earnings per share for the quarter, topping 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 quarter in the previous year, the firm earned $1.34 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Analysts expect that FirstService will post 5.27 EPS for the current year.
FirstService Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 7th. Shareholders of record on Tuesday, March 31st were paid a $0.305 dividend. The ex-dividend date was Tuesday, March 31st. This is a boost from FirstService’s previous quarterly dividend of $0.28. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService’s dividend payout ratio is presently 38.61%.
Institutional Trading of FirstService
Hedge funds have recently made changes to their positions in the company. Truist Financial Corp grew its position in FirstService by 0.9% during the fourth quarter. Truist Financial Corp now owns 8,894 shares of the financial services provider’s stock worth $1,383,000 after buying an additional 77 shares in the last quarter. Evergreen Capital Management LLC grew its position in FirstService by 5.6% during the second quarter. Evergreen Capital Management LLC now owns 1,462 shares of the financial services provider’s stock worth $256,000 after buying an additional 77 shares in the last quarter. Geneos Wealth Management Inc. grew its position in FirstService by 63.7% during the second 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. Parr Mcknight Wealth Management Group LLC grew its position in FirstService by 1.1% during the third quarter. Parr Mcknight Wealth Management Group LLC now owns 7,583 shares of the financial services provider’s stock worth $1,444,000 after buying an additional 81 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in FirstService by 88.0% during the fourth 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. 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.