Scotiabank Increases FirstService (NASDAQ:FSV) Price Target to $200.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target boosted by equities research analysts at Scotiabank from $190.00 to $200.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price target would suggest a potential upside of 6.56% from the stock’s previous close.

A number of other analysts have also issued reports on the company. TD Securities boosted their price objective on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Royal Bank of Canada boosted their price objective on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstService currently has an average rating of “Moderate Buy” and a consensus target price of $191.17.

FirstService Stock Up 0.4 %

Shares of NASDAQ FSV opened at $187.69 on Tuesday. FirstService has a one year low of $134.77 and a one year high of $189.89. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. The business’s fifty day moving average price is $178.19 and its 200-day moving average price is $163.04. The stock has a market capitalization of $8.44 billion, a PE ratio of 92.92 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.10. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, equities research analysts anticipate that FirstService will post 4.35 EPS for the current year.

Hedge Funds Weigh In On FirstService

A number of institutional investors have recently added to or reduced their stakes in FSV. The Manufacturers Life Insurance Company increased its position in shares of FirstService by 6.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,733,694 shares of the financial services provider’s stock valued at $415,427,000 after purchasing an additional 174,970 shares during the last quarter. Vanguard Group Inc. increased its position in shares of FirstService by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock valued at $274,363,000 after purchasing an additional 76,503 shares during the last quarter. Conestoga Capital Advisors LLC increased its position in shares of FirstService by 3.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after purchasing an additional 44,236 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of FirstService by 0.8% during the 2nd quarter. William Blair Investment Management LLC now owns 861,871 shares of the financial services provider’s stock valued at $131,323,000 after purchasing an additional 6,863 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of FirstService by 3.4% during the 2nd quarter. Renaissance Technologies LLC now owns 643,388 shares of the financial services provider’s stock valued at $98,033,000 after purchasing an additional 21,100 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers 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.