FirstService (NASDAQ:FSV) Reaches New 52-Week High at $96.76

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Shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) hit a new 52-week high during trading on Friday . The stock traded as high as $96.76 and last traded at $96.21, with a volume of 448 shares trading hands. The stock had previously closed at $96.40.

Several brokerages recently commented on FSV. BidaskClub raised FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, March 30th. BMO Capital Markets boosted their price objective on FirstService to $106.00 in a research note on Friday, May 24th. Zacks Investment Research lowered FirstService from a “hold” rating to a “sell” rating in a research note on Friday, May 31st. Raymond James boosted their price objective on FirstService from $84.00 to $85.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada boosted their price objective on FirstService from $94.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Monday, May 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $100.00.

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.42 and a quick ratio of 1.45. The company has a market capitalization of $3.47 billion, a P/E ratio of 53.59 and a beta of 0.85.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). The business had revenue of $485.70 million during the quarter, compared to analyst estimates of $468.98 million. FirstService had a return on equity of 23.44% and a net margin of 3.12%. FirstService’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. On average, equities research analysts anticipate that FirstService Corp will post 1.81 earnings per share for the current fiscal year.

The firm also recently disclosed a special dividend, which will be paid on Friday, July 5th. Shareholders of record on Friday, June 28th will be paid a $0.15 dividend. The ex-dividend date is Thursday, June 27th. This is a positive change from FirstService’s previous special dividend of $0.08. FirstService’s payout ratio is currently 33.33%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC lifted its stake in shares of FirstService by 7.5% during the first quarter. Neuberger Berman Group LLC now owns 1,186,666 shares of the financial services provider’s stock valued at $106,017,000 after acquiring an additional 83,206 shares during the period. Bank of Montreal Can lifted its stake in shares of FirstService by 3.2% during the first quarter. Bank of Montreal Can now owns 782,821 shares of the financial services provider’s stock valued at $69,937,000 after acquiring an additional 24,514 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of FirstService by 23.7% during the first quarter. The Manufacturers Life Insurance Company now owns 746,985 shares of the financial services provider’s stock valued at $66,736,000 after acquiring an additional 143,267 shares during the period. CIBC Asset Management Inc lifted its stake in shares of FirstService by 1.8% during the first quarter. CIBC Asset Management Inc now owns 633,611 shares of the financial services provider’s stock valued at $56,445,000 after acquiring an additional 11,292 shares during the period. Finally, Conestoga Capital Advisors LLC lifted its stake in shares of FirstService by 1.3% during the first quarter. Conestoga Capital Advisors LLC now owns 497,798 shares of the financial services provider’s stock valued at $44,473,000 after acquiring an additional 6,301 shares during the period. 66.83% of the stock is currently owned by institutional investors and hedge funds.

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About FirstService (NASDAQ:FSV)

FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management 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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