FirstService Corporation was Downgraded to a Hold Rating at William Blair

By Ryan Adsit

William Blair analyst Brandon Dobell downgraded FirstService Corporation (NASDAQ: FSV) to Hold today. The company’s shares closed yesterday at $68.54, close to its 52-week high of $70.83.

According to TipRanks.com, Dobell is a 2-star analyst with an average return of 0.8% and a 44.0% success rate. Dobell covers the Services sector, focusing on stocks such as Apollo Education Group Inc, American Public Education, and Capella Education Company.

FirstService Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $66.50.

Based on FirstService Corporation’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $435 million and quarterly net profit of $18.35 million. In comparison, last year the company earned revenue of $385 million and had a net profit of $12.71 million.

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FirstService Corp. engages in the provision of real estate services. It operates through the FirstService Residential and FirstService Brands segments. The FirstService Residential segment offers property management services to houses and apartments. The FirstService Brands segment includes property solutions to commercial and residential clients.