Fiera Capital's latest earnings report reveals a significant miss on EPS expectations, raising questions about its growth trajectory.
Fiera Capital Corporation (TSX: FSZ) reported its Q2 2026 earnings on August 7, 2026, showing an earnings per share (EPS) of C$0.21, which is 12.5% below the C$0.24 estimate. This comes against a backdrop of fluctuating assets under management (AUM) and changes in client relations.
Recent earnings trend
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Fiera Capital Corporation
FSZ.TO
FSZ.TO
Fiera Capital Corporation
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Market cap
$506.46M
P/E
25.0x
Div. yield
8.52%
Div. / share
$0.43
52W high
$6.63
52W low
$4.43
1W change
-10.06%
Beta
0.86
Analyst Price Targets
Based on analyst covering FSZ
Wall Street analysts forecast FSZ stock price to rise 27.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$5.71
+27.7% Upside
Current Price
C$4.47
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
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Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on FSZ's historical volatility
30-Day Vol
41.7%
Annualized
90-Day Vol
31.0%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$3.74
Expected price
| Horizon | Expected | 68% Range (1ฯ) |
|---|---|---|
| 30 trading days | C$4.21 | C$3.65 โ C$4.86 |
| 60 trading days | C$3.97 | C$3.24 โ C$4.86 |
| 90 trading days | C$3.74 | C$2.91 โ C$4.80 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ยฑ1ฯ, 95% band = ยฑ2ฯ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 4 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 1 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-12 | โ | 0.2200 | โ |
| 2026-06-30 | 2026-08-07 | 0.2100 | 0.2400 | -12.5% |
| 2026-03-31 | 2026-05-15 | 0.2100 | 0.2100 | +0.0% |
| 2025-12-31 | 2026-02-26 | 0.2400 | 0.2800 | -14.3% |
| 2025-09-30 | 2025-11-13 | 0.2300 | 0.2200 | +4.5% |
| 2025-06-30 | 2025-08-08 | 0.2400 | 0.1900 | +26.3% |
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Investor takeaway: The earnings miss and a decline in year-over-year revenue suggest that investors should be cautious. Although Fiera's AUM has seen slight growth, pressures from net outflows and client rebalancing may affect future performance.
EPS Misses Estimates: C$0.21 vs. C$0.24
The 12.5% miss in EPS highlights ongoing challenges in the capital markets, especially in managing client expectations and dealing with market volatility.
Bull case
Fiera Capital is focusing on expanding its Private Markets segment and has successfully acquired new clients, which could drive future growth. The firm has seen an increase in AUM in this area, potentially boosting revenue streams in the future.
Bear case
The significant net outflows and the recent earnings miss point to challenges in maintaining client relationships and generating steady revenue. Investors should be cautious about how these trends might impact future earnings.
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