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

FirstService Co. (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, June 28th will be given a dividend of 0.25 per share by the financial services provider on Friday, July 5th. This represents a $1.00 annualized dividend and a 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 every year for the last 6 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 0.4 %

FSV traded up $0.62 on Thursday, hitting $151.66. 33,178 shares of the company were exchanged, compared to its average volume of 78,379. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.00 and a current ratio of 2.00. The stock’s fifty day moving average is $159.13 and its 200-day moving average is $158.80. The company has a market cap of $6.82 billion, a PE ratio of 74.77 and a beta of 1.01. FirstService has a 12 month low of $134.77 and a 12 month high of $171.94.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). FirstService had a net margin of 2.02% and a return on equity of 16.42%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts predict that FirstService will post 4.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FSV shares. StockNews.com downgraded FirstService from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. TheStreet downgraded FirstService from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 target price on shares of FirstService in a report on Wednesday, February 7th. BMO Capital Markets reduced their target price on FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Raymond James raised their target price on FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, FirstService currently has a consensus rating of “Moderate Buy” and an average price target 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.