Fiera Capital (TSE:FSZ) Hits New 12-Month High on Strong Earnings

Fiera Capital Co. (TSE:FSZ) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as C$10.14 and last traded at C$10.08, with a volume of 117187 shares trading hands. The stock had previously closed at C$9.82.

The company reported C$0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.19 by C$0.06. The company had revenue of C$171.71 million during the quarter, compared to analysts’ expectations of C$163.10 million. Fiera Capital had a return on equity of 22.95% and a net margin of 8.97%.

Fiera Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Tuesday, November 19th will be issued a $0.216 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $0.86 annualized dividend and a dividend yield of 8.89%. This is a positive change from Fiera Capital’s previous quarterly dividend of $0.22. Fiera Capital’s payout ratio is currently 159.26%.

Analyst Ratings Changes

FSZ has been the subject of several research analyst reports. Desjardins increased their price objective on shares of Fiera Capital from C$7.75 to C$9.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. National Bank Financial cut shares of Fiera Capital from a “hold” rating to a “strong sell” rating in a report on Sunday, July 28th. TD Securities boosted their price target on Fiera Capital from C$9.00 to C$10.00 and gave the company a “hold” rating in a research note on Friday. Scotiabank lifted their price target on Fiera Capital from C$8.50 to C$9.00 in a research report on Wednesday, July 24th. Finally, National Bankshares upped their price objective on shares of Fiera Capital from C$8.00 to C$8.50 and gave the stock an “underperform” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$9.07.

Insider Buying and Selling

In other Fiera Capital news, insider FIERA CAPITAL S.E.C. sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$7.30, for a total value of C$73,049.00. In related news, Senior Officer John Valentini sold 122,500 shares of Fiera Capital stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$7.46, for a total transaction of C$913,347.75. Also, insider FIERA CAPITAL S.E.C. sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of C$7.30, for a total value of C$73,049.00. Over the last ninety days, insiders sold 207,400 shares of company stock worth $1,601,622. 0.86% of the stock is owned by corporate insiders.

Fiera Capital Stock Performance

The company has a current ratio of 1.39, a quick ratio of 1.05 and a debt-to-equity ratio of 259.56. The firm has a fifty day moving average price of C$8.54 and a 200 day moving average price of C$7.85. The firm has a market cap of C$852.93 million, a PE ratio of 18.00, a price-to-earnings-growth ratio of -0.87 and a beta of 1.64.

About Fiera Capital

Fiera Capital Corporation is an employee owned investment manager. The firm primarily provides its services to institutional investors, mutual funds, charitable organizations, and private clients. It manages separate client-focused equity, fixed income, and balanced portfolios. The firm also launches and manages equity, fixed income, and balanced mutual funds and income trusts for its clients.