FirstService Corporation (NASDAQ:FSV) Announces Quarterly Dividend of $0.28

FirstService Corporation (NASDAQ:FSV) (TSE:FSV) declared a quarterly dividend on Thursday, December 4th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.275 per share by the financial services provider on Wednesday, January 7th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Wednesday, December 31st.

FirstService has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. FirstService has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FirstService to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 18.6%.

FirstService Price Performance

FSV opened at $154.91 on Friday. The company has a market capitalization of $7.08 billion, a P/E ratio of 51.29, a PEG ratio of 2.91 and a beta of 1.05. The company has a 50-day moving average of $167.17 and a 200-day moving average of $180.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.77 and a current ratio of 1.77. FirstService has a 1-year low of $149.13 and a 1-year high of $209.66.

FirstService (NASDAQ:FSV) (TSE:FSV) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $1.76 EPS for the quarter, hitting analysts’ consensus estimates of $1.76. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. FirstService had a return on equity of 17.98% and a net margin of 2.53%.The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. Equities analysts expect that FirstService will post 5.27 EPS for the current fiscal year.

Institutional Trading of FirstService

A number of large investors have recently modified their holdings of the company. JPL Wealth Management LLC acquired a new stake in shares of FirstService during the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. increased its holdings in FirstService by 63.7% in the second quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider’s stock worth $35,000 after buying an additional 79 shares during the last quarter. Strs Ohio bought a new position in FirstService during the first quarter valued at approximately $38,000. EverSource Wealth Advisors LLC lifted its stake in FirstService by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 292 shares during the last quarter. Finally, Spire Wealth Management grew its position in FirstService by 300.0% in the third quarter. Spire Wealth Management now owns 400 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.35% of the company’s stock.

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.