Stifel Canada Decreases Earnings Estimates for FirstService

FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV - Research analysts at Stifel Canada lowered their FY2024 EPS estimates for shares of FirstService in a research report issued to clients and investors on Sunday, January 26th. Stifel Canada analyst D. Young now expects that the financial services provider will earn $4.58 per share for the year, down from their previous estimate of $4.61. The consensus estimate for FirstService's current full-year earnings is $4.64 per share. Stifel Canada also issued estimates for FirstService's Q4 2024 earnings at $1.23 EPS.

Several other equities analysts have also commented on FSV. Scotiabank upped their price target on FirstService from $190.00 to $200.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 15th. 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. Raymond James upped their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a report on Friday, October 25th. Finally, Stifel Nicolaus lifted their price objective on FirstService from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $201.67.

FirstService Price Performance

Shares of FSV traded down $0.43 during mid-day trading on Tuesday, hitting $185.45. 77,564 shares of the company were exchanged, compared to its average volume of 122,598. FirstService has a 1-year low of $141.26 and a 1-year high of $197.84. The stock has a market cap of $8.40 billion, a price-to-earnings ratio of 77.27 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The company has a 50 day moving average of $185.65 and a 200-day moving average of $181.27.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in FirstService by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 164,183 shares of the financial services provider's stock valued at $25,017,000 after acquiring an additional 3,048 shares during the last quarter. Sei Investments Co. raised its stake in FirstService by 160.3% in the 2nd quarter. Sei Investments Co. now owns 6,181 shares of the financial services provider's stock valued at $942,000 after purchasing an additional 3,806 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of FirstService by 3.7% during the second quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider's stock worth $616,000 after purchasing an additional 143 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of FirstService by 33.4% in the second quarter. Cubist Systematic Strategies LLC now owns 17,253 shares of the financial services provider's stock valued at $2,628,000 after purchasing an additional 4,318 shares during the period. Finally, Millennium Management LLC lifted its position in FirstService by 2,136.1% during the second quarter. Millennium Management LLC now owns 209,297 shares of the financial services provider's stock worth $31,853,000 after buying an additional 199,937 shares during the period. 69.35% of the stock is owned by hedge funds and other institutional investors.

FirstService Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. FirstService's dividend payout ratio (DPR) is 41.67%.

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.