Raymond James Financial Issues Pessimistic Forecast for FirstService (TSE:FSV) Stock Price

FirstService (TSE:FSV) (NASDAQ:FSV) had its price target lowered by Raymond James Financial from C$215.00 to C$190.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James Financial’s price objective points to a potential downside of 2.98% from the company’s current price.

Separately, TD increased their price objective on FirstService from C$204.00 to C$207.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$200.67.

FirstService Price Performance

Shares of FSV stock traded up C$11.33 during trading hours on Friday, reaching C$195.83. 78,047 shares of the company were exchanged, compared to its average volume of 132,214. FirstService has a fifty-two week low of C$169.60 and a fifty-two week high of C$290.34. The company has a debt-to-equity ratio of 95.68, a current ratio of 1.26 and a quick ratio of 1.25. The stock’s fifty day moving average is C$195.25 and its two-hundred day moving average is C$201.03. The company has a market cap of C$9.00 billion, a price-to-earnings ratio of 55.16, a P/E/G ratio of 107.75 and a beta of 0.79.

FirstService (TSE:FSV) (NASDAQ:FSV) last issued its quarterly earnings results on Thursday, July 23rd. The company reported C$2.49 earnings per share for the quarter. FirstService had a net margin of 2.93% and a return on equity of 12.11%. The business had revenue of C$2.06 billion during the quarter. Sell-side analysts forecast that FirstService will post 7.5161189 earnings per share for the current fiscal year.

Insider Transactions at FirstService

In other FirstService news, insider Firstservice Corporation bought 2,500 shares of the stock in a transaction on Thursday, April 30th. The stock was purchased at an average price of C$181.90 per share, with a total value of C$454,750.00. Following the acquisition, the insider owned 16,872 shares of the company’s stock, valued at approximately C$3,069,016.80. The trade was a 17.39% increase in their ownership of the stock. Insiders have purchased 7,872 shares of company stock valued at $1,431,216 over the last quarter. 10.26% of the stock is currently owned by company insiders.

About FirstService

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company’s revenue. FirstService Brands provides property services to residential and commercial customers through the following brands: California Closets; Paul Davis Restoration; CertPro Painters; Pillar to Post; Floor Coverings International; College Pro Painters; and Service America.