FirstService (FSV) Raised to “Buy” at BidaskClub

FirstService (NASDAQ:FSV) (TSE:FSV) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

FSV has been the topic of several other reports. Zacks Investment Research raised FirstService from a “sell” rating to a “hold” rating in a report on Monday, November 19th. BMO Capital Markets restated a “hold” rating and issued a $83.00 price objective on shares of FirstService in a research report on Wednesday, October 24th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $82.75.

Shares of FSV opened at $75.93 on Friday. The company has a market capitalization of $2.64 billion, a PE ratio of 37.40 and a beta of 0.76. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.44. FirstService has a one year low of $62.90 and a one year high of $90.21.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.01). The business had revenue of $506.36 million during the quarter, compared to analyst estimates of $505.25 million. FirstService had a return on equity of 36.30% and a net margin of 3.71%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 earnings per share. On average, sell-side analysts expect that FirstService will post 1.87 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new position in FirstService in the 3rd quarter worth approximately $101,000. Empirical Finance LLC bought a new position in FirstService in the 3rd quarter worth approximately $207,000. National Asset Management Inc. bought a new position in FirstService in the 3rd quarter worth approximately $231,000. Citadel Advisors LLC bought a new position in FirstService in the 3rd quarter worth approximately $251,000. Finally, Jane Street Group LLC bought a new position in FirstService in the 3rd quarter worth approximately $267,000. Hedge funds and other institutional investors own 67.40% 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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