FirstService Corporation (NASDAQ:FSV) Price Target Raised to $71.00 at Royal Bank Of Canada

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) had its price target increased by Royal Bank Of Canada from $65.00 to $71.00 in a research report report published on Thursday. Royal Bank Of Canada currently has an outperform rating on the financial services provider’s stock.

Several other research firms have also recently commented on FSV. Raymond James Financial, Inc. lifted their price target on FirstService Corporation from $63.00 to $65.00 and gave the company a market perform rating in a report on Thursday. BidaskClub cut FirstService Corporation from a hold rating to a sell rating in a report on Tuesday. Zacks Investment Research cut FirstService Corporation from a strong-buy rating to a hold rating in a report on Tuesday, June 27th. BMO Capital Markets restated a hold rating and issued a $65.00 price target on shares of FirstService Corporation in a report on Thursday, April 27th. Finally, Citigroup Inc. restated a market perform rating and issued a $61.00 price target (up previously 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 given a buy rating to the stock. FirstService Corporation presently has a consensus rating of Hold and a consensus price target of $65.50.

Shares of FirstService Corporation (NASDAQ FSV) traded down 2.18% on Thursday, reaching $64.94. 28,549 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $63.66 and its 200-day moving average price is $59.15. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 51.95 and a beta of 0.93. FirstService Corporation has a 52 week low of $39.05 and a 52 week high of $67.41.

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.11. The firm had revenue of $434.90 million during the quarter, compared to the consensus estimate of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. Equities analysts predict that FirstService Corporation will post $1.99 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 30th were issued a $0.1225 dividend. This represents a $0.49 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, June 28th. FirstService Corporation’s dividend payout ratio (DPR) is 39.20%.

A number of hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC purchased a new stake in shares of FirstService Corporation during the first quarter worth about $45,157,000. JPMorgan Chase & Co. boosted its stake in shares of FirstService Corporation by 4.2% in the first quarter. JPMorgan Chase & Co. now owns 4,860 shares of the financial services provider’s stock worth $224,000 after buying an additional 195 shares during the last quarter. Hillsdale Investment Management Inc. boosted its stake in shares of FirstService Corporation by 33.0% in the first quarter. Hillsdale Investment Management Inc. now owns 175,650 shares of the financial services provider’s stock worth $10,600,000 after buying an additional 43,550 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of FirstService Corporation by 10.3% in the first quarter. Parametric Portfolio Associates LLC now owns 7,853 shares of the financial services provider’s stock worth $474,000 after buying an additional 733 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of FirstService Corporation by 0.3% in the first quarter. Toronto Dominion Bank now owns 41,188 shares of the financial services provider’s stock worth $2,490,000 after buying an additional 121 shares during the last quarter. Institutional investors own 58.54% of the company’s stock.

About FirstService Corporation

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.