FirstService Co. to Issue Quarterly Dividend of $0.25 (NASDAQ:FSV)

FirstService Co. (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Tuesday, September 10th, Zacks reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.25 per share by the financial services provider on Monday, October 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, September 30th.

FirstService has increased its dividend by an average of 10.9% per year over the last three years. FirstService has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FirstService to earn $5.01 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 20.0%.

FirstService Stock Down 0.2 %

Shares of NASDAQ:FSV traded down $0.28 during midday trading on Thursday, hitting $178.80. 20,195 shares of the stock were exchanged, compared to its average volume of 82,943. The company has a market capitalization of $8.04 billion, a PE ratio of 88.65 and a beta of 1.05. FirstService has a 52-week low of $134.77 and a 52-week high of $181.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84. The business’s fifty day simple moving average is $169.95 and its two-hundred day simple moving average is $160.38.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.10. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.37 earnings per share. As a group, research analysts predict that FirstService will post 4.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FSV shares. BMO Capital Markets lifted their price target on shares of FirstService from $193.00 to $196.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Royal Bank of Canada boosted their target price on shares of FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Scotiabank raised their price target on FirstService from $175.00 to $190.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, TD Securities boosted their price objective on FirstService from $178.00 to $179.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $189.50.

FirstService Company Profile

FirstService Corporation, together with its subsidiaries, provides residential property management and other essential property services to residential and commercial customers in the United States and Canada. It operates through two segments: FirstService Residential and FirstService Brands. The FirstService Residential segment offers services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.