FirstService (TSE:FSV) Reaches New 52-Week Low on Analyst Downgrade

FirstService (TSE:FSV) shares hit a new 52-week low after TD Securities downgraded its price target from C$213.00 to C$211.00, despite maintaining a buy rating. The stock traded as low as C$216.29 and closed at C$218.17. Scotiabank upgraded FirstService from hold to strong-buy. The company declared a quarterly dividend of $0.275 per share, yielding 0.5%. FirstService operates in residential management and brands, with a market cap of C$9.97 billion and a P/E ratio of 72.00.

FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV's share price reached a new 52-week low during trading on Thursday after TD Securities lowered their price target on the stock from C$213.00 to C$211.00. TD Securities currently has a buy rating on the stock. FirstService traded as low as C$216.29 and last traded at C$218.17, with a volume of 66129 shares traded. The stock had previously closed at C$218.73.

Separately, Scotiabank upgraded FirstService from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat, FirstService currently has an average rating of "Strong Buy" and a consensus target price of C$211.00.

View Our Latest Report on FirstService

Insider Buying and Selling

In other news, Director Erin Joy Wallace sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of C$275.74, for a total transaction of C$827,214.00. Following the sale, the director directly owned 10,000 shares in the company, valued at approximately C$2,757,380. The trade was a 23.08% decrease in their ownership of the stock. 10.26% of the stock is currently owned by corporate insiders.

FirstService Stock Down 0.3%

The firm has a 50 day moving average price of C$260.02 and a 200-day moving average price of C$253.45. The firm has a market cap of C$9.97 billion, a price-to-earnings ratio of 72.00, a price-to-earnings-growth ratio of 107.75 and a beta of 0.96. The company has a debt-to-equity ratio of 136.54, a current ratio of 1.81 and a quick ratio of 1.25.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.5%. FirstService's dividend payout ratio is currently 35.48%.

About FirstService

(Get Free Report)

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company's revenue.

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