FirstService (NASDAQ:FSV) Sets New 52-Week High – What’s Next?

FirstService Co. (NASDAQ:FSV) (TSE:FSV)’s stock price reached a new 52-week high on Monday . The stock traded as high as $191.30 and last traded at $191.30, with a volume of 201 shares trading hands. The stock had previously closed at $186.98.

Analyst Ratings Changes

FSV has been the subject of several recent research reports. Royal Bank of Canada increased their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Scotiabank increased their target price on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 15th. Finally, TD Securities boosted their price target on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.67.

FirstService Stock 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 stock has a 50-day moving average price of $179.31 and a 200-day moving average price of $163.56. The firm has a market capitalization of $8.60 billion, a PE ratio of 92.56 and a beta of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.10. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. FirstService’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.37 EPS. On average, research analysts expect that FirstService Co. will post 4.35 EPS for the current fiscal year.

FirstService Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 0.52%. FirstService’s dividend payout ratio (DPR) is 49.50%.

Institutional Investors Weigh In On FirstService

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates grew its position in shares of FirstService by 4.9% in the 3rd quarter. Raymond James & Associates now owns 148,864 shares of the financial services provider’s stock worth $27,162,000 after acquiring an additional 6,995 shares in the last quarter. Baskin Financial Services Inc. boosted 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 increased its stake in FirstService by 105.1% during the third quarter. Creative Planning now owns 9,273 shares of the financial services provider’s stock valued at $1,692,000 after purchasing an additional 4,752 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of FirstService by 33.4% during 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 bought a new position in shares of FirstService in the 2nd quarter worth about $216,000. Institutional investors own 69.35% of the company’s stock.

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.