FirstService (NASDAQ:FSV) (TSE:FSV) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03, Morningstar.com reports. FirstService had a net margin of 3.11% and a return on equity of 30.18%. The business had revenue of $438.10 million for the quarter, compared to the consensus estimate of $416.13 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis.

FirstService (NASDAQ FSV) opened at $66.31 on Friday. FirstService has a 1-year low of $50.89 and a 1-year high of $74.49. The company has a debt-to-equity ratio of 1.51, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $2,370.18, a price-to-earnings ratio of 42.32 and a beta of 0.59.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 6th. Stockholders of record on Thursday, March 29th will be issued a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, March 28th. This is an increase from FirstService’s previous quarterly dividend of $0.12. FirstService’s payout ratio is 33.79%.

Several brokerages have weighed in on FSV. BidaskClub downgraded shares of FirstService from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Zacks Investment Research downgraded shares of FirstService from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. Scotiabank downgraded shares of FirstService from an “outperform” rating to a “sector perform” rating in a report on Thursday, October 26th. Royal Bank of Canada boosted their target price on shares of FirstService from $75.00 to $78.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, William Blair reissued a “market perform” rating on shares of FirstService in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $69.80.

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in FirstService by 1.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 224,686 shares of the financial services provider’s stock worth $15,710,000 after purchasing an additional 2,872 shares during the last quarter. Forsta AP Fonden bought a new stake in FirstService in the fourth quarter worth $765,000. CIBC Asset Management Inc increased its position in FirstService by 9.9% in the fourth quarter. CIBC Asset Management Inc now owns 74,570 shares of the financial services provider’s stock worth $5,238,000 after purchasing an additional 6,741 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in FirstService in the fourth quarter worth $36,895,000. Finally, Montrusco Bolton Investments Inc. increased its position in FirstService by 7.6% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 612,719 shares of the financial services provider’s stock worth $43,000,000 after purchasing an additional 43,482 shares during the last quarter. 60.80% of the stock is currently owned by hedge funds and other institutional investors.

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About FirstService

Firstservice Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company operates through two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides ancillary services in the areas of on-site staffing, including building engineering and maintenance, full-service amenity management, security, concierge and front desk personnel, and landscaping; banking and insurance products, and energy conservation and management solutions.

Earnings History for FirstService (NASDAQ:FSV)

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