FirstService Co. (FSV) to Issue Quarterly Dividend of $0.25 on July 5th

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

FirstService has increased its dividend payment by an average of 10.9% per year over the last three years and has raised its dividend every year for the last 6 years. FirstService has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

FSV stock traded up $0.69 during midday trading on Thursday, reaching $151.73. The company had a trading volume of 70,852 shares, compared to its average volume of 78,827. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 74.77 and a beta of 1.01. The stock has a 50 day moving average price of $159.13 and a 200-day moving average price of $158.80. FirstService has a 1-year low of $134.77 and a 1-year high of $171.94. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.00 and a quick ratio of 2.00.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FSV shares. BMO Capital Markets cut 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 lowered FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Scotiabank initiated coverage on FirstService in a research note on Thursday, April 11th. They issued a “sector perform” rating and a $170.00 price target on the stock. Finally, Raymond James boosted their price target on FirstService from $185.00 to $205.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $186.00.

FirstService Company Profile

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.