FirstService Corp. (FSV) to Issue $0.11 Quarterly Dividend
FirstService Corp. (NASDAQ:FSV) declared a quarterly dividend on Monday, September 19th. Shareholders of record on Friday, September 30th will be given a dividend of 0.11 per share on Friday, October 7th. This represents a $0.44 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Wednesday, September 28th.
FirstService Corp. (NASDAQ:FSV) traded up 1.06% during mid-day trading on Monday, hitting $45.96. 108,619 shares of the stock were exchanged. The company has a 50-day moving average price of $49.44 and a 200-day moving average price of $45.22. The company has a market cap of $1.65 billion, a P/E ratio of 58.77 and a beta of 0.57. FirstService Corp. has a one year low of $31.37 and a one year high of $53.15.
FirstService Corp. (NASDAQ:FSV) last issued its earnings results on Wednesday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. FirstService Corp. had a net margin of 2.09% and a return on equity of 19.20%. The business earned $385.10 million during the quarter, compared to analysts’ expectations of $386.29 million. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. Analysts forecast that FirstService Corp. will post $1.56 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of FirstService Corp. by 3,998.1% in the second quarter. JPMorgan Chase & Co. now owns 4,303 shares of the company’s stock valued at $197,000 after buying an additional 4,198 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of FirstService Corp. during the second quarter valued at about $227,000. Quadrature Capital Ltd bought a new position in shares of FirstService Corp. during the second quarter valued at about $252,000. Scotia Capital Inc. bought a new position in shares of FirstService Corp. during the second quarter valued at about $361,000. Finally, Citigroup Inc. bought a new position in shares of FirstService Corp. during the second quarter valued at about $597,000. Institutional investors and hedge funds own 55.07% of the company’s stock.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of FirstService Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 2nd. Raymond James Financial Inc. cut shares of FirstService Corp. from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $43.33.
FirstService Corp. Company Profile
FirstService Corporation is a provider of residential property management and other essential property services to residential and commercial customers. The Company’s operations are conducted in two segments: FirstService Residential and FirstService Brands. FirstService Residential is a property manager and provides a range of ancillary services primarily in various areas, including 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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