Zacks Investment Research Upgrades FirstService (FSV) to Strong-Buy

FirstService (NASDAQ:FSV) (TSE:FSV) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm currently has a $97.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 9.44% from the stock’s previous close.

According to Zacks, “FirstService Corporation offers property services to commercial, institutional and residential customers primarily in North America and internationally. Its operating segment consists of Commercial Real Estate Services, Residential Real Estate Services and Property Services. FirstService Corporation is headquartered in Toronto, Canada. “

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Friday, December 7th. ValuEngine raised shares of FirstService from a “hold” rating to a “buy” rating in a research note on Saturday, January 5th. BMO Capital Markets reaffirmed a “hold” rating and set a $83.00 target price on shares of FirstService in a research note on Wednesday, October 24th. William Blair reaffirmed a “market perform” rating on shares of FirstService in a research note on Wednesday, February 6th. Finally, Raymond James reaffirmed a “market perform” rating and set a $84.00 target price on shares of FirstService in a research note on Friday, February 8th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. FirstService has an average rating of “Buy” and a consensus target price of $89.00.

FSV stock opened at $88.63 on Tuesday. FirstService has a 1 year low of $64.87 and a 1 year high of $90.21. The stock has a market capitalization of $3.08 billion, a P/E ratio of 49.14 and a beta of 0.99. The company has a quick ratio of 1.44, a current ratio of 1.38 and a debt-to-equity ratio of 1.42.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.31). FirstService had a net margin of 3.41% and a return on equity of 31.55%. The business had revenue of $503.31 million for the quarter, compared to the consensus estimate of $481.54 million. During the same period in the prior year, the business posted $0.49 EPS. FirstService’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, equities analysts anticipate that FirstService will post 1.91 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of FSV. Tower Research Capital LLC TRC purchased a new stake in shares of FirstService during the third quarter valued at approximately $101,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of FirstService by 14.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,163 shares of the financial services provider’s stock valued at $148,000 after buying an additional 268 shares during the last quarter. Empirical Finance LLC purchased a new stake in shares of FirstService during the third quarter valued at approximately $207,000. National Asset Management Inc. purchased a new stake in shares of FirstService during the third quarter valued at approximately $231,000. Finally, Citadel Advisors LLC purchased a new stake in shares of FirstService during the third quarter valued at approximately $251,000. Hedge funds and other institutional investors own 68.73% of the company’s stock.

FirstService Company Profile

FirstService Corporation provides 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 manages 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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