FirstService Corp (FSV) is Downgraded by Raymond James to Mkt Perform

FirstService Corp (FSV) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Jun 7, 2016.

On the company’s financial health, FirstService Corp reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.07. The company had revenue of $307.60 million for the quarter, compared to analysts expectations of $297.98 million. The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Investors should note that on May 17, 2016, FirstService Corp announced a cash dividend of $0.1100. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 7, 2016.

FirstService Corporation is a provider of property services. The Company offers property services through two service platforms including FirstService Residential and FirstService Brands. FirstService Residential manages approximately 7000 properties in residential communities. In addition to property management services FirstService Residential provides other services in various areas such as 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. FirstService Brands provides property services through seven brands including Paul Davis Restoration CertaPro Painters California Closets Pillar to Post Home Inspectors Floorcoverings International College Pro Painters and Service America. The Company also provides services related to energy insurance financial products and loan placement.

FirstService Corp

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