FirstService (NASDAQ:FSV) Announces Earnings Results

FirstService (NASDAQ:FSV) (TSE:FSV) announced its quarterly earnings results on Thursday. The financial services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05, Briefing.com reports. FirstService had a return on equity of 18.07% and a net margin of 2.88%. During the same period in the previous year, the company posted $1.76 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year.

FirstService Trading Up 7.0%

FSV traded up $9.56 during midday trading on Thursday, reaching $146.15. 21,739 shares of the company’s stock traded hands, compared to its average volume of 209,546. The firm has a fifty day moving average of $135.57 and a two-hundred day moving average of $138.69. The stock has a market capitalization of $6.38 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 3.07 and a beta of 0.95. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.63 and a quick ratio of 1.63. FirstService has a 52 week low of $119.41 and a 52 week high of $189.05.

FirstService Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.22 dividend on an annualized basis and a yield of 0.8%. FirstService’s dividend payout ratio is presently 34.56%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FSV. Scotiabank set a $170.00 price objective on FirstService in a research note on Friday, July 24th. Wall Street Zen downgraded shares of FirstService from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. BMO Capital Markets lowered their price target on shares of FirstService from $199.00 to $192.00 and set an “outperform” rating for the company in a report on Friday, July 24th. TD Securities reiterated a “buy” rating and set a $195.00 price target on shares of FirstService in a report on Friday, July 24th. Finally, TD increased their price target on shares of FirstService from $204.00 to $207.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $183.70.

FirstService Company Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners’ associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.