FirstService Corp (FSV) Shares Down 4.5%
FirstService Corp (TSE:FSV) (NASDAQ:FSV)’s share price fell 4.5% on Thursday . The stock traded as low as C$86.76 and last traded at C$87.56. 58,982 shares traded hands during trading, an increase of 67% from the average session volume of 35,318 shares. The stock had previously closed at C$91.69.
Several brokerages have commented on FSV. Scotiabank downgraded FirstService Corp from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$89.00 to C$91.00 in a report on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a C$74.00 price target on shares of FirstService Corp in a report on Thursday. Royal Bank Of Canada downgraded FirstService Corp from an “outperform” rating to a “sector perform” rating and set a C$95.50 price target on the stock. in a report on Thursday. Raymond James Financial, Inc. increased their price target on FirstService Corp to C$81.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Finally, William Blair downgraded FirstService Corp from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 12th. Five equities research analysts have rated the stock with a hold rating, FirstService Corp has an average rating of “Hold” and a consensus target price of C$85.38.
The company has a market cap of $3.16 billion and a P/E ratio of 70.35. The company’s 50-day moving average is $84.93 and its 200 day moving average is $83.32.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Stockholders of record on Friday, September 29th were paid a dividend of $0.123 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from FirstService Corp’s previous quarterly dividend of $0.10.
In related news, insider Corporation Firstservice acquired 409 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of C$69.40 per share, for a total transaction of C$28,384.60. In the last quarter, insiders have bought 5,711 shares of company stock worth $387,790.
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FirstService Corp Company Profile
Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.
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