TD Securities Raises FirstService (NASDAQ:FSV) Price Target to $182.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price objective increased by TD Securities from $179.00 to $182.00 in a research report released on Thursday, BayStreet.CA reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank raised their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.67.

FirstService Price Performance

Shares of NASDAQ:FSV opened at $186.98 on Thursday. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 92.56 and a beta of 1.05. 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 firm has a 50 day simple moving average of $179.31 and a 200 day simple moving average of $163.56. FirstService has a one year low of $134.77 and a one year high of $189.89.

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

FirstService Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s dividend payout ratio (DPR) is presently 49.50%.

Institutional Investors Weigh In On FirstService

Large investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in FirstService by 4.9% in the third quarter. Raymond James & Associates now owns 148,864 shares of the financial services provider’s stock worth $27,162,000 after purchasing an additional 6,995 shares during the period. Baskin Financial Services Inc. grew its holdings in FirstService by 0.3% in the third quarter. Baskin Financial Services Inc. now owns 250,491 shares of the financial services provider’s stock worth $45,737,000 after purchasing an additional 636 shares during the period. Creative Planning grew its holdings in FirstService by 105.1% in the third quarter. Creative Planning now owns 9,273 shares of the financial services provider’s stock worth $1,692,000 after purchasing an additional 4,752 shares during the period. Cubist Systematic Strategies LLC grew its holdings in FirstService by 33.4% in the second quarter. Cubist Systematic Strategies LLC now owns 17,253 shares of the financial services provider’s stock worth $2,628,000 after purchasing an additional 4,318 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in FirstService in the second quarter worth $216,000. 69.35% of the stock is currently owned by institutional investors and hedge funds.

About FirstService

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.