FirstService Co. (NASDAQ:FSV) to Issue Dividend Increase – $0.28 Per Share

FirstService Co. (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.275 per share by the financial services provider on Wednesday, May 7th. This represents a $1.10 dividend on an annualized basis and a yield of 0.60%. This is an increase from FirstService’s previous quarterly dividend of $0.25.

FirstService has raised its dividend by an average of 11.1% annually over the last three years. FirstService has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FirstService to earn $5.28 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 18.9%.

FirstService Price Performance

FSV stock traded up $2.29 during trading on Tuesday, reaching $182.69. 47,568 shares of the company were exchanged, compared to its average volume of 116,697. FirstService has a 52-week low of $141.26 and a 52-week high of $197.84. The company has a market cap of $8.27 billion, a P/E ratio of 76.09 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.79 and a current ratio of 1.79. The stock’s 50 day moving average price is $184.85 and its 200 day moving average price is $181.79.

Analyst Upgrades and Downgrades

FSV has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of FirstService from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Scotiabank increased their price objective on shares of FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 15th. Raymond James increased their price objective on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, TD Securities increased their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $201.67.

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.