10 stories mentioning FSZ.TOUpdated 42d ago
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Fiera Capital Target Eased To C$6 From C$7, Keeps Sector Perform at National Bank On EBITDA Miss and Ongoing Net Outflows In Q1 2026
Fiera Capital (FSZ.TO) reported a fall in net earnings in the first quarter as revenue decreased year-over-year.For the three months ended March 31, 2026, the company reported net earnings of $2.8 million or adjusted earnings per diluted share of $0.21 compared with $21.8 million or adjusted EPS of $0.20, a year earlier.Revenue decreased to $153.3 million compared with $162.9 million, a year-ago, primarily due to lower base management fees from sub-advised mandates, lower share of earnings in joint ventures and associates, and lower commitment and transaction fees, it said."The first quarter of 2026 was marked by heightened market volatility in the month of March, resulting in market losses which have already reversed in the second quarter to-date," said Fiera Capital Chief Executive Maxime Menard.Its board approved a dividend of 10.8 cents per share, unchanged from the prior quarter, payable on June 18.Shares of the company closed up 1.4% to $5.79 on Thursday on the Toronto Stock Exchange.
Fiera Capital (FSZ.TO) has completed a $100 million debenture private placement debenture offering, the company said on Monday.The unsecured 7.40% debentures were issued at par to Fonds de solidarite FTQ, and mature on April 31, 2031. Fiera concurrently redeemed its 6.00% debentures due June 30, 2027, previously issued to Fonds de solidarite FTQ, at its principal amount of $100 million."We are pleased to refinance our debenture with Fonds de solidarite FTQ, a valued long-term partner. This refinancing is aligned with our objective of maintaining a prudent and flexible capital structure. It strengthens our ability to execute on our priorities while continuing to position Fiera Capital for long-term, sustainable value creation." said Lucas Pontillo, global chief financial officer.Fiera Capital closed down $0.11, to $5.65 on Friday, on the Toronto Stock Exchange.
Maxime Menard has returned to his role as Global President and Chief Executive Officer, effective immediately, following a medical leave of absence, Fiera Capital Corporation (FSZ.TO) said Wednesday.Gabriel Castiglio, who served as Interim Global Chief Executive Officer during Menard's leave, resumes his role as Executive Director, Global Chief Operating Officer.Jean-Guy Desjardins, Founder of Fiera Capital and Executive Chair of the Board, said: "Maxime has the full confidence of the Board, and we look forward to the continued execution of our strategic priorities under his leadership. I also want to thank Gabriel Castiglio for his steady and effective stewardship during the interim period."Shares in FSZ eased $0.08 to $5.52 yesterday.
RBC Capital Markets initiated coverage of Fiera Capital Corp. (FSZ.TO) with a $6 price target and Sector Perform rating.Analyst Bart Dziarski said the Montreal-based asset management company's 3-year strategic plan under new CEO Maxime Menard "focused on specialized distribution, improving performance, growing Private Markets, streamlining costs, and capital allocation is in its early days which presents execution risk.""75% of FCF earmarked for de-leveraging & NCIB constrains investing for growth," Dziarski said in a note to clients."We have a neutral view of Fiera's Private Markets business given each strategy is sub-scale and are cautious on Fiera's Public Markets business given persistent outflows and recent performance," the analyst said.
Fiera Capital (FSZ.TO) reported its preliminary estimate of assets under management (AUM) of about $160.2 billion as at March 31, compared to $164.1 billion as at Dec. 31, 2025, it said.The company's total AUM declined 2.4% quarter-over-quarter, largely reflecting significant equity market volatility in the month of March, it said. Total average AUM was down 1.9% from the prior quarter."Private markets AUM increased 0.9% reflecting positive market and foreign exchange impact and nominal net inflows," said the company in a statement.It will issue its financial results for the first quarter of 2026 on Friday, May 8, 2026, before markets open.Shares of the company closed down 1.6% to $5.71 on Thursday on the Toronto Stock Exchange.
