FirstService Co. (NASDAQ:FSV) Sees Large Increase in Short Interest

FirstService Co. (NASDAQ:FSVGet Free Report) (TSE:FSV) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 216,800 shares, an increase of 7.6% from the May 15th total of 201,400 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily volume of 88,700 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Scotiabank assumed coverage on shares of FirstService in a research note on Thursday, April 11th. They set a “sector perform” rating and a $170.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, FirstService has an average rating of “Moderate Buy” and a consensus target price of $186.60.

Check Out Our Latest Analysis on FirstService

Institutional Trading of FirstService

Institutional investors have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its position in FirstService by 2.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 6,040 shares of the financial services provider’s stock valued at $998,000 after acquiring an additional 149 shares in the last quarter. Cetera Advisors LLC bought a new position in FirstService during the first quarter valued at approximately $311,000. Virtu Financial LLC raised its position in FirstService by 152.1% during the first quarter. Virtu Financial LLC now owns 4,190 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 2,528 shares in the last quarter. Quadrature Capital Ltd raised its position in FirstService by 2.8% during the first quarter. Quadrature Capital Ltd now owns 218,800 shares of the financial services provider’s stock valued at $36,127,000 after acquiring an additional 5,900 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in FirstService by 68.0% during the first quarter. Toronto Dominion Bank now owns 68,856 shares of the financial services provider’s stock valued at $11,416,000 after acquiring an additional 27,871 shares in the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Price Performance

FirstService stock traded down $2.35 during trading hours on Wednesday, hitting $150.76. 85,456 shares of the company traded hands, compared to its average volume of 100,471. The firm has a market cap of $6.78 billion, a P/E ratio of 74.63 and a beta of 1.04. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18. The firm’s 50-day simple moving average is $149.60 and its two-hundred day simple moving average is $158.90. FirstService has a 1-year low of $134.77 and a 1-year high of $171.94.

FirstService (NASDAQ:FSVGet Free Report) (TSE:FSV) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). FirstService had a return on equity of 16.42% and a net margin of 2.02%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, analysts forecast that FirstService will post 4.32 earnings per share for the current fiscal year.

FirstService Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 28th. FirstService’s dividend payout ratio is currently 49.51%.

About FirstService

(Get Free Report)

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

Recommended Stories

Receive News & Ratings for FirstService Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstService and related companies with MarketBeat.com's FREE daily email newsletter.