Scotiabank Increases FirstService (NASDAQ:FSV) Price Target to $190.00

FirstService (NASDAQ:FSV) (TSE:FSV) had its price target increased by stock analysts at Scotiabank from $175.00 to $190.00 in a report issued 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 stock’s previous close.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets raised their target price on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Royal Bank of Canada raised their target price on shares of FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $191.60.

FirstService Trading Down 0.7 %

NASDAQ:FSV traded down $1.23 during trading hours on Monday, reaching $174.40. 4,430 shares of the company were exchanged, compared to its average volume of 85,743. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.78 and a quick ratio of 2.00. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 86.34 and a beta of 1.05. FirstService has a 52-week low of $134.77 and a 52-week high of $177.46. The stock has a 50 day simple moving average of $153.93 and a 200 day simple moving average of $158.29.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $1.37 earnings per share. FirstService’s revenue was up 15.9% on a year-over-year basis. As a group, analysts predict that FirstService will post 4.32 EPS for the current year.

Institutional Investors Weigh In On FirstService

A number of large investors have recently added to or reduced their stakes in FSV. Benjamin F. Edwards & Company Inc. acquired a new stake in FirstService during the 4th quarter valued at $39,000. Spire Wealth Management acquired a new position in shares of FirstService in the 4th quarter valued at about $40,000. Accent Capital Management LLC acquired a new position in shares of FirstService in the 4th quarter valued at about $40,000. Blue Trust Inc. boosted its holdings in shares of FirstService by 8,066.7% in the 2nd quarter. Blue Trust Inc. now owns 245 shares of the financial services provider’s stock valued at $41,000 after buying an additional 242 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of FirstService by 25.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 365 shares of the financial services provider’s stock valued at $60,000 after buying an additional 75 shares during the period. 69.35% of the stock is 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.