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

FirstService Co. (NASDAQ:FSV) (TSE:FSV) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Friday, June 28th.

FirstService has raised its dividend by an average of 10.9% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. FirstService has a dividend payout ratio of 18.2% indicating that 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 %

Shares of NASDAQ FSV traded up $0.62 during trading hours on Thursday, hitting $151.66. The company had a trading volume of 33,178 shares, compared to its average volume of 78,379. The stock has a market capitalization of $6.82 billion, a P/E ratio of 74.77 and a beta of 1.01. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18. FirstService has a 1-year low of $134.77 and a 1-year high of $171.94. The firm’s 50 day moving average is $159.13 and its 200-day moving average is $158.80.

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

Analysts Set New Price Targets

Several analysts recently weighed in on FSV shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $187.00 price objective on shares of FirstService in a research note on Wednesday, February 7th. Raymond James upped their target price on FirstService from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. BMO Capital Markets reduced their price objective on FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. TheStreet downgraded FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Finally, Scotiabank began coverage on FirstService in a research note on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price objective on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently 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.