FirstService Co. (NASDAQ:FSV) Increases Dividend to $0.28 Per Share

FirstService Co. (NASDAQ:FSV) (TSE:FSV) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Shareholders of record on Monday, March 31st will be paid a dividend of 0.275 per share by the financial services provider on Wednesday, May 7th. This represents a $1.10 annualized dividend and a yield of 0.62%. This is an increase from FirstService’s previous quarterly dividend of $0.25.

FirstService has raised its dividend payment by an average of 11.1% per year over the last three years. FirstService has a payout ratio of 16.1% meaning 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 Stock Performance

Shares of FSV opened at $178.04 on Wednesday. FirstService has a 12 month low of $141.26 and a 12 month high of $197.84. The stock has a fifty day moving average price of $184.60 and a 200-day moving average price of $181.91. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.13. The firm has a market cap of $8.06 billion, a PE ratio of 74.50 and a beta of 1.06.

Wall Street Analysts Forecast Growth

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

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.