Stifel Nicolaus Increases FirstService (NASDAQ:FSV) Price Target to $215.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target hoisted by Stifel Nicolaus from $200.00 to $215.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on FSV. Royal Bank of Canada boosted their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. TD Securities lifted their price target on shares of FirstService from $179.00 to $182.00 and gave the company a “hold” rating in a research report on Thursday, October 17th. Finally, Scotiabank lifted their price target on shares of FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.33.

FirstService Trading Up 2.8 %

Shares of FirstService stock opened at $189.65 on Monday. The stock has a market cap of $8.53 billion, a P/E ratio of 93.89 and a beta of 1.05. The stock’s 50 day simple moving average is $180.55 and its 200-day simple moving average is $164.25. FirstService has a 1-year low of $134.77 and a 1-year high of $192.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results 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 business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The business’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 firm posted $1.37 EPS. Analysts predict that FirstService will post 4.35 EPS for the current fiscal year.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, September 30th. FirstService’s payout ratio is 49.50%.

Institutional Trading of FirstService

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC grew its stake in FirstService by 2,136.1% during the 2nd quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider’s stock worth $31,853,000 after purchasing an additional 199,937 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of FirstService by 6.8% in 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 buying an additional 174,970 shares during the period. Vanguard Group Inc. grew its position in shares of FirstService by 4.8% during the first quarter. Vanguard Group Inc. now owns 1,654,783 shares of the financial services provider’s stock worth $274,363,000 after buying an additional 76,503 shares in the last quarter. Summit Creek Advisors LLC purchased a new stake in shares of FirstService during the first quarter worth approximately $11,710,000. Finally, Conestoga Capital Advisors LLC raised its holdings in FirstService by 3.2% in the second quarter. Conestoga Capital Advisors LLC now owns 1,426,851 shares of the financial services provider’s stock valued at $217,409,000 after acquiring an additional 44,236 shares in the last quarter. Hedge funds and other 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.