FirstService Co. (NASDAQ:FSV - Free Report) TSE: FSV - Stock analysts at Scotiabank upped their FY2024 EPS estimates for FirstService in a research note issued on Wednesday, January 8th. Scotiabank analyst H. Gupta now forecasts that the financial services provider will post earnings of $4.64 per share for the year, up from their prior estimate of $4.36. Scotiabank currently has a "Sector Perform" rating and a $200.00 price objective on the stock. The consensus estimate for FirstService's current full-year earnings is $4.58 per share. Scotiabank also issued estimates for FirstService's FY2025 earnings at $5.38 EPS.
FSV has been the subject of several other reports. StockNews.com upgraded shares of FirstService from a "hold" rating to a "buy" rating in a research report on Friday, October 25th. TD Securities boosted their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a "hold" rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus raised their target price on FirstService from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, FirstService presently has an average rating of "Moderate Buy" and an average target price of $198.33.
Check Out Our Latest Stock Analysis on FirstService
FirstService Trading Down 1.6 %
Shares of FirstService stock traded down $2.88 on Friday, hitting $174.61. The stock had a trading volume of 205,835 shares, compared to its average volume of 93,123. The stock has a 50 day moving average of $186.98 and a 200 day moving average of $178.43. The firm has a market capitalization of $7.90 billion, a P/E ratio of 72.75 and a beta of 1.06. FirstService has a twelve month low of $141.26 and a twelve month high of $197.84. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79.
FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.21. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The business's revenue for the quarter was up 25.0% compared to the same quarter last year.
FirstService Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. FirstService's payout ratio is currently 41.67%.
Institutional Investors Weigh In On FirstService
A number of hedge funds have recently added to or reduced their stakes in FSV. Harbor Capital Advisors Inc. raised its holdings in shares of FirstService by 253.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 19,351 shares of the financial services provider's stock valued at $3,503,000 after purchasing an additional 13,876 shares during the period. Versant Capital Management Inc bought a new stake in FirstService in the 4th quarter valued at about $29,000. JPMorgan Chase & Co. raised its stake in FirstService by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 200,776 shares of the financial services provider's stock worth $36,634,000 after buying an additional 10,191 shares during the period. Franklin Resources Inc. boosted its holdings in FirstService by 486.3% in the third quarter. Franklin Resources Inc. now owns 469,141 shares of the financial services provider's stock worth $87,308,000 after acquiring an additional 389,129 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in FirstService in the third quarter valued at approximately $53,000. 69.35% of the stock is currently owned by institutional investors.
About FirstService
(
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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.
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