FirstService (NASDAQ:FSV) PT Raised to $190.00 at Scotiabank

FirstService (NASDAQ:FSV) (TSE:FSV) had its target price lifted by Scotiabank from $175.00 to $190.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Scotiabank’s price objective suggests a potential upside of 8.94% from the company’s previous close.

A number of other analysts have also commented on FSV. BMO Capital Markets lifted their price objective on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. 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. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.60.

FirstService Price Performance

FSV traded down $1.23 during midday trading on Monday, hitting $174.40. The company had a trading volume of 4,430 shares, compared to its average volume of 85,743. FirstService has a twelve month low of $134.77 and a twelve month high of $177.46. The company has a market capitalization of $7.84 billion, a PE ratio of 86.34 and a beta of 1.05. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.00 and a current ratio of 1.78. The firm’s 50-day simple moving average is $153.93 and its 200-day simple moving average is $158.29.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.10. The firm had revenue of $1.30 billion during 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 revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.37 EPS. Equities research analysts predict that FirstService will post 4.32 EPS for the current fiscal year.

Institutional Trading of FirstService

A number of hedge funds have recently modified their holdings of FSV. Benjamin F. Edwards & Company Inc. bought a new stake in FirstService in the fourth quarter valued at approximately $39,000. Spire Wealth Management bought a new stake in shares of FirstService in the 4th quarter valued at $40,000. Accent Capital Management LLC bought a new stake in shares of FirstService in the 4th quarter valued at $40,000. Blue Trust Inc. raised its stake in FirstService by 8,066.7% during the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock worth $41,000 after buying an additional 242 shares during the period. Finally, Gulf International Bank UK Ltd lifted its holdings in FirstService by 25.9% during the first quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 75 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

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.