FirstService Corporation (FSV) Plans Quarterly Dividend of $0.12
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) declared a quarterly dividend on Tuesday, September 12th, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.1225 per share by the financial services provider on Friday, October 6th. This represents a $0.49 annualized dividend and a yield of 0.71%.
FirstService Corporation (FSV) traded down 1.64% during trading on Tuesday, reaching $68.54. The company’s stock had a trading volume of 27,914 shares. FirstService Corporation has a 52 week low of $39.05 and a 52 week high of $70.60. The firm has a 50 day moving average of $65.43 and a 200 day moving average of $62.11. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 54.83 and a beta of 0.90.
FirstService Corporation (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.11. The business had revenue of $434.90 million during the quarter, compared to the consensus estimate of $421.35 million. FirstService Corporation had a net margin of 2.84% and a return on equity of 24.64%. FirstService Corporation’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Analysts expect that FirstService Corporation will post $1.96 EPS for the current year.
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FirstService Corporation announced that its board has authorized a share buyback program on Thursday, August 17th that allows the company to buyback 3,100,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several brokerages have commented on FSV. Zacks Investment Research downgraded shares of FirstService Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of FirstService Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. TheStreet raised shares of FirstService Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, July 26th. Royal Bank Of Canada upped their target price on shares of FirstService Corporation from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, July 27th. Finally, Raymond James Financial, Inc. upped their target price on shares of FirstService Corporation from $63.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. FirstService Corporation presently has a consensus rating of “Buy” and an average price target of $67.00.
FirstService Corporation Company Profile
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.
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