FirstService (NASDAQ:FSV) Issues Quarterly Earnings Results

FirstService (NASDAQ:FSV) (TSE:FSV) posted its earnings results on Thursday. The financial services provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.10, Briefing.com reports. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.28 billion. FirstService had a return on equity of 15.80% and a net margin of 1.73%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share.

FirstService Stock Up 0.7 %

Shares of NASDAQ:FSV traded up $1.26 during midday trading on Friday, reaching $175.63. The company had a trading volume of 119,650 shares, compared to its average volume of 97,894. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average price is $153.93 and its 200 day moving average price is $158.32. The stock has a market cap of $7.90 billion, a PE ratio of 86.95 and a beta of 1.05. FirstService has a 1-year low of $134.77 and a 1-year high of $177.46.

FirstService Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 28th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Friday, June 28th. FirstService’s dividend payout ratio is currently 49.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets lifted their target price on FirstService from $193.00 to $196.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. Scotiabank lifted their price target on FirstService from $170.00 to $175.00 and gave the company a “sector perform” rating in a research note on Friday, July 12th. Finally, Royal Bank of Canada lifted their price target on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $188.60.

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.