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

FirstService Co. (NASDAQ:FSV) (TSE:FSV) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.25 per share by the financial services provider on Friday, July 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 28th.

FirstService has raised its dividend payment by an average of 10.9% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. FirstService has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect FirstService to earn $5.11 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 19.6%.

FirstService Stock Up 0.5 %

FirstService stock traded up $0.69 during midday trading on Thursday, hitting $151.73. 70,852 shares of the stock were exchanged, compared to its average volume of 78,827. FirstService has a 1 year low of $134.77 and a 1 year high of $171.94. The firm has a market cap of $6.82 billion, a P/E ratio of 74.77 and a beta of 1.01. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.00 and a quick ratio of 2.00. The company has a 50 day moving average price of $159.13 and a two-hundred day moving average price of $158.80.

FirstService (NASDAQ:FSV) (TSE:FSV) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. FirstService had a return on equity of 16.42% and a net margin of 2.02%. On average, sell-side analysts predict that FirstService will post 4.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FSV has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $187.00 price objective on shares of FirstService in a research report on Wednesday, February 7th. Scotiabank assumed coverage on FirstService in a report on Thursday, April 11th. They set a “sector perform” rating and a $170.00 price target on the stock. StockNews.com cut FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, TheStreet downgraded shares of FirstService from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.00.

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.