FirstService Corporation (FSV) Downgraded by BidaskClub

BidaskClub lowered shares of FirstService Corporation (NASDAQ:FSV) (TSE:FSV) from a hold rating to a sell rating in a research note released on Tuesday.

Other research analysts also recently issued reports about the stock. Royal Bank Of Canada raised their price target on shares of FirstService Corporation from $58.00 to $65.00 and gave the company an outperform rating in a report on Thursday, April 27th. BMO Capital Markets reissued a hold rating and issued a $65.00 price target on shares of FirstService Corporation in a report on Thursday, April 27th. Raymond James Financial, Inc. raised their price target on shares of FirstService Corporation from $61.00 to $63.00 and gave the company a market perform rating in a report on Thursday, April 27th. Finally, Citigroup Inc. reissued a market perform rating and issued a $61.00 price target (up from $60.00) on shares of FirstService Corporation in a report on Thursday, April 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $63.50.

Shares of FirstService Corporation (FSV) traded down 0.30% during midday trading on Tuesday, hitting $63.07. The company had a trading volume of 2,999 shares. FirstService Corporation has a 12-month low of $39.05 and a 12-month high of $65.01. The company has a market capitalization of $2.26 billion, a price-to-earnings ratio of 57.39 and a beta of 0.93. The company’s 50-day moving average price is $62.33 and its 200 day moving average price is $55.98.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. FirstService Corporation had a net margin of 2.57% and a return on equity of 20.02%. The firm had revenue of $376 million during the quarter, compared to the consensus estimate of $354.59 million. During the same period last year, the firm earned $0.08 EPS. The business’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities research analysts predict that FirstService Corporation will post $1.95 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.1225 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, June 28th. FirstService Corporation’s dividend payout ratio is currently 44.55%.

Hedge funds have recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in FirstService Corporation during the first quarter worth about $1,923,000. AQR Capital Management LLC increased its stake in FirstService Corporation by 23.2% in the first quarter. AQR Capital Management LLC now owns 26,205 shares of the financial services provider’s stock worth $1,580,000 after buying an additional 4,941 shares in the last quarter. Bank of America Corp DE increased its stake in FirstService Corporation by 6.0% in the first quarter. Bank of America Corp DE now owns 62,409 shares of the financial services provider’s stock worth $3,764,000 after buying an additional 3,536 shares in the last quarter. Renaissance Technologies LLC increased its stake in FirstService Corporation by 26.7% in the first quarter. Renaissance Technologies LLC now owns 813,200 shares of the financial services provider’s stock worth $49,043,000 after buying an additional 171,600 shares in the last quarter. Finally, Citadel Advisors LLC bought a new stake in FirstService Corporation during the first quarter worth about $282,000. 59.12% of the stock is owned by institutional investors.

FirstService Corporation Company Profile

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

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