Analysts Offer Predictions for FirstService FY2024 Earnings

FirstService Co. (NASDAQ:FSV) (TSE:FSV) – Scotiabank raised their FY2024 earnings per share estimates for FirstService in a report released on Wednesday, January 8th. Scotiabank analyst H. Gupta now expects that the financial services provider will post earnings of $4.64 per share for the year, up from their prior estimate of $4.36. Scotiabank has a “Sector Perform” rating and a $200.00 price objective on the stock. The consensus estimate for FirstService’s current full-year earnings is $4.58 per share. Scotiabank also issued estimates for FirstService’s FY2025 earnings at $5.38 EPS.

FirstService (NASDAQ:FSV) (TSE:FSV) last issued its earnings results on Thursday, October 24th. The financial services provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.42 by $0.21. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. FirstService had a return on equity of 16.68% and a net margin of 2.19%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period last year, the business posted $1.18 EPS.

A number of other research firms have also recently commented on FSV. Stifel Nicolaus raised their target price on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. TD Securities increased their price target on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

FirstService Price Performance

NASDAQ FSV opened at $177.49 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.79 and a quick ratio of 1.79. FirstService has a 1-year low of $141.26 and a 1-year high of $197.84. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 73.95 and a beta of 1.06. The business’s fifty day moving average price is $187.13 and its 200-day moving average price is $178.44.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FSV. Benjamin Edwards Inc. grew its stake in shares of FirstService by 35.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 351 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 91 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of FirstService by 3.5% in the third quarter. HighTower Advisors LLC now owns 2,932 shares of the financial services provider’s stock valued at $533,000 after buying an additional 98 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in FirstService by 3.2% in the third quarter. Raymond James Trust N.A. now owns 3,523 shares of the financial services provider’s stock valued at $643,000 after purchasing an additional 110 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in FirstService by 49.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 416 shares of the financial services provider’s stock valued at $63,000 after buying an additional 138 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its stake in FirstService by 3.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 4,048 shares of the financial services provider’s stock worth $616,000 after buying an additional 143 shares during the last quarter. 69.35% of the stock is currently owned by institutional investors and hedge funds.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. FirstService’s payout ratio is presently 41.67%.

FirstService Company Profile

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.