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

FirstService Co. (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, June 28th will be paid 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 of this dividend 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. 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 Trading Down 0.3 %

NASDAQ FSV traded down $0.41 during trading hours on Thursday, hitting $150.63. 26,682 shares of the company’s stock were exchanged, compared to its average volume of 78,333. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 74.77 and a beta of 1.01. The stock has a 50-day simple moving average of $159.13 and a 200 day simple moving average of $158.80. The company has a current ratio of 2.00, a quick 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.

FirstService (NASDAQ:FSV) (TSE:FSV) last announced its quarterly earnings data 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). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. FirstService had a return on equity of 16.42% and a net margin of 2.02%. On average, equities analysts forecast that FirstService will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on FSV. Royal Bank of Canada reissued an “outperform” rating and issued a $187.00 price objective on shares of FirstService in a research note on Wednesday, February 7th. TheStreet lowered shares of FirstService from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. StockNews.com lowered shares of FirstService from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Scotiabank started coverage on shares of FirstService in a research report on Thursday, April 11th. They set a “sector perform” rating and a $170.00 target price for the company. Finally, BMO Capital Markets dropped their price target on shares of FirstService from $196.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.