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

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 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, September 30th.

FirstService has increased its dividend by an average of 10.9% annually over the last three years. FirstService has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.2 %

FSV traded down $0.42 during trading on Thursday, hitting $178.66. 19,485 shares of the company’s stock were exchanged, compared to its average volume of 82,914. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.23. The firm has a market cap of $8.03 billion, a P/E ratio of 88.65 and a beta of 1.05. The stock has a 50 day moving average price of $169.95 and a 200 day moving average price of $160.38. FirstService has a 1 year low of $134.77 and a 1 year high of $181.23.

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

Wall Street Analysts Forecast Growth

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

About FirstService

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.