FirstService Corporation to Issue Quarterly Dividend of $0.30 (NASDAQ:FSV)

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Thursday, September 17th. Investors of record on Wednesday, September 30th will be given a dividend of 0.305 per share by the financial services provider on Wednesday, October 7th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th.

FirstService has increased its dividend payment 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 19.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FirstService to earn $6.21 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 19.6%.

FirstService Stock Performance

Shares of NASDAQ FSV traded down $2.40 during trading on Friday, reaching $130.15. 63,659 shares of the company traded hands, compared to its average volume of 217,155. The firm has a 50 day simple moving average of $141.51 and a 200-day simple moving average of $140.70. FirstService has a 52-week low of $119.41 and a 52-week high of $202.67. The stock has a market capitalization of $5.68 billion, a PE ratio of 36.87, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.03.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. FirstService had a net margin of 2.88% and a return on equity of 18.07%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 EPS. Equities research analysts anticipate that FirstService will post 5.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FSV shares. Scotiabank set a $170.00 price objective on FirstService in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $144.00 target price on shares of FirstService in a research report on Friday, July 24th. TD Cowen reissued a “buy” rating and issued a $204.00 price target on shares of FirstService in a research note on Wednesday, June 3rd. TD raised their target price on shares of FirstService from $204.00 to $207.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $175.00 price target on shares of FirstService in a research report on Friday, July 24th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $184.20.

About FirstService

FirstService Corporation is a property services company serving residential and commercial property owners, residents, and businesses primarily in the United States and Canada. The company operates through two main divisions: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium, cooperative, homeowners, and other residential communities. Its services include community association management, property maintenance, financial administration, compliance support, and resident services.

FirstService Brands operates a network of service businesses that support property repair, maintenance, improvement, and restoration.