Q2 2019 EPS Estimates for FirstService Corp (NASDAQ:FSV) Decreased by William Blair

FirstService Corp (NASDAQ:FSV) (TSE:FSV) – Research analysts at William Blair dropped their Q2 2019 earnings per share (EPS) estimates for shares of FirstService in a research note issued to investors on Monday, June 24th, according to Zacks Investment Research. William Blair analyst S. Sheldon now expects that the financial services provider will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.65. William Blair also issued estimates for FirstService’s Q3 2019 earnings at $0.76 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.91 EPS and FY2020 earnings at $2.46 EPS.

Several other equities analysts have also issued reports on the company. BidaskClub raised BankFinancial from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Royal Bank of Canada upped their price objective on Heroux Devtek from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Monday, May 27th. BMO Capital Markets restated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a research report on Tuesday, June 25th. Finally, Raymond James restated an “outperform” rating and issued a $36.00 price objective on shares of Zymeworks in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. FirstService has an average rating of “Hold” and a consensus target price of $103.25.

Shares of NASDAQ FSV traded up $0.30 during mid-day trading on Wednesday, hitting $97.90. 2,164 shares of the stock traded hands, compared to its average volume of 28,360. The company has a current ratio of 1.42, a quick ratio of 1.45 and a debt-to-equity ratio of 1.00. The firm’s 50 day simple moving average is $95.53. The firm has a market capitalization of $3.51 billion, a P/E ratio of 54.39 and a beta of 0.84. FirstService has a twelve month low of $64.87 and a twelve month high of $100.86.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.01). FirstService had a net margin of 3.12% and a return on equity of 23.44%. The company had revenue of $485.70 million during the quarter, compared to the consensus estimate of $468.98 million. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year.

The business also recently declared a special dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 28th were paid a $0.15 dividend. The ex-dividend date was Thursday, June 27th. This is a boost from FirstService’s previous special dividend of $0.08. FirstService’s payout ratio is presently 33.33%.

A number of large investors have recently modified their holdings of FSV. Comerica Bank purchased a new stake in shares of FirstService in the 4th quarter worth approximately $1,096,000. Dean Capital Investments Management LLC grew its position in FirstService by 14.8% during the fourth quarter. Dean Capital Investments Management LLC now owns 5,834 shares of the financial services provider’s stock valued at $400,000 after buying an additional 754 shares during the period. National Asset Management Inc. lifted its holdings in FirstService by 42.8% during the fourth quarter. National Asset Management Inc. now owns 3,885 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 1,164 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in FirstService by 5.7% during the fourth quarter. Bank of New York Mellon Corp now owns 12,585 shares of the financial services provider’s stock valued at $861,000 after purchasing an additional 679 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in shares of FirstService in the fourth quarter worth about $4,800,000. Institutional investors own 66.83% of the company’s stock.

About FirstService

FirstService Corporation, together with its subsidiaries, provides residential 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 provides property management 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.

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