FirstService Corporation Announces Quarterly Dividend of $0.28 (NASDAQ:FSV)

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) declared a quarterly dividend on Thursday, December 4th. Investors of record on Wednesday, December 31st will be paid a dividend of 0.275 per share by the financial services provider on Wednesday, January 7th. This represents a c) dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 31st.

FirstService has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. FirstService has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Analysts expect FirstService to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 18.6%.

FirstService Stock Up 0.3%

FSV opened at $154.91 on Friday. The firm has a market cap of $7.08 billion, a P/E ratio of 51.29, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.77. The business has a 50 day moving average price of $167.17 and a 200 day moving average price of $180.52. FirstService has a twelve month low of $149.13 and a twelve month high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, meeting analysts’ consensus estimates of $1.76. FirstService had a net margin of 2.53% and a return on equity of 17.98%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Research analysts forecast that FirstService will post 5.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSV. Raymond James Financial dropped their target price on shares of FirstService from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Stifel Nicolaus dropped their price objective on FirstService from $230.00 to $215.00 and set a “buy” rating on the stock in a research note on Monday, October 27th. TD Securities cut their price objective on FirstService from $213.00 to $211.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Scotiabank raised FirstService from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $220.00 to $205.00 in a report on Friday, October 24th. Finally, Wall Street Zen downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $211.83.

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.