FirstService Corporation (NASDAQ:FSV) Shares Shorted: Short Interest Down 56.3% in September

by · The Cerbat Gem

FirstService Corporation (NASDAQ:FSV – Get Free Report) (TSE:FSV) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 835,655 shares, a decline of 56.3% from the August 31st total of 1,912,255 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily volume of 203,927 shares, the days-to-cover ratio is currently 4.1 days.

FirstService Trading Up 0.1%

FSV traded up $0.18 during mid-day trading on Tuesday, hitting $129.20. 154,579 shares of the stock were exchanged, compared to its average volume of 218,571. The firm’s fifty day moving average is $139.21 and its two-hundred day moving average is $139.65. FirstService has a 1-year low of $119.41 and a 1-year high of $191.70. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.03. The company has a market cap of $5.64 billion, a PE ratio of 36.60, a PEG ratio of 2.85 and a beta of 0.93.

FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) last released its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.04. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. FirstService had a return on equity of 18.07% and a net margin of 2.88%.FirstService’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. Equities analysts forecast that FirstService will post 5.61 earnings per share for the current fiscal year.

FirstService Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Wednesday, September 30th will be issued a $0.3050 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.9%. FirstService’s payout ratio is 34.56%.

Analysts Set New Price Targets

FSV has been the subject of a number of recent analyst reports. Scotiabank set a $170.00 price target on shares of FirstService in a report on Friday, July 24th. TD Securities reiterated a “buy” rating and issued a $195.00 price objective on shares of FirstService in a report on Friday, July 24th. TD Cowen reissued a “buy” rating and set a $204.00 target price on shares of FirstService in a research note on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of FirstService in a research note on Wednesday, August 26th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, FirstService has a consensus rating of “Moderate Buy” and an average target price of $184.20.

Check Out Our Latest Stock Analysis on FirstService

Institutional Investors Weigh In On FirstService

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in shares of FirstService by 16.1% during the first quarter. Janus Henderson Group PLC now owns 1,587,454 shares of the financial services provider’s stock worth $220,560,000 after buying an additional 219,890 shares in the last quarter. Conestoga Capital Advisors LLC raised its holdings in FirstService by 19.9% in the first quarter. Conestoga Capital Advisors LLC now owns 1,405,564 shares of the financial services provider’s stock valued at $195,289,000 after acquiring an additional 233,043 shares in the last quarter. Geode Capital Management LLC lifted its stake in FirstService by 9.0% in the fourth quarter. Geode Capital Management LLC now owns 529,854 shares of the financial services provider’s stock worth $87,275,000 after acquiring an additional 43,695 shares during the last quarter. Norges Bank purchased a new position in FirstService in the fourth quarter worth approximately $85,597,000. Finally, Royal Bank of Canada grew its holdings in FirstService by 15.7% during the 1st quarter. Royal Bank of Canada now owns 573,421 shares of the financial services provider’s stock worth $79,672,000 after acquiring an additional 77,758 shares in the last quarter. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Company Profile

(Get Free Report)

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.

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