FirstService (NASDAQ:FSV) Reaches New 12-Month High – Here’s What Happened

FirstService Co. (NASDAQ:FSV) (TSE:FSV)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $183.93 and last traded at $183.88, with a volume of 29007 shares. The stock had previously closed at $180.40.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. TD Securities raised their price target on FirstService from $178.00 to $179.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Scotiabank raised their target price on shares of FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada boosted their price target on shares of FirstService from $187.00 to $192.00 and gave the stock 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $189.50.

FirstService Price Performance

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 has a 50 day moving average of $176.79 and a 200 day moving average of $162.34. The company has a market cap of $8.31 billion, a PE ratio of 89.31 and a beta of 1.05.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. FirstService’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.37 earnings per share. As a group, research analysts predict that FirstService Co. will post 4.35 EPS for the current year.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, September 30th. FirstService’s dividend payout ratio is presently 49.50%.

Hedge Funds Weigh In On FirstService

Several large investors have recently made changes to their positions in the business. LM Advisors LLC bought a new position in FirstService in the 4th quarter worth about $15,557,000. Argent Capital Management LLC raised its holdings in FirstService by 22.2% in the fourth quarter. Argent Capital Management LLC now owns 23,844 shares of the financial services provider’s stock worth $3,865,000 after buying an additional 4,325 shares during the last quarter. Virtu Financial LLC bought a new position in shares of FirstService in the fourth quarter worth approximately $269,000. Goldman Sachs Group Inc. grew its holdings in shares of FirstService by 245.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 338,104 shares of the financial services provider’s stock valued at $54,803,000 after buying an additional 240,303 shares during the last quarter. Finally, Accent Capital Management LLC purchased a new position in FirstService in the 4th quarter worth approximately $40,000. 69.35% of the stock is currently owned by hedge funds and other 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.