FirstService Co. (NASDAQ:FSV) to Issue Quarterly Dividend of $0.28

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 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 0.62%. This is an increase from FirstService’s previous quarterly dividend of $0.25.

FirstService has increased its dividend by an average of 11.1% annually over the last three years. FirstService has a 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

Shares of NASDAQ:FSV opened at $178.04 on Wednesday. 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 firm has a market cap of $8.06 billion, a price-to-earnings ratio of 74.50 and a beta of 1.06. The firm has a fifty day moving average price of $184.60 and a 200 day moving average price of $181.91. FirstService has a fifty-two week low of $141.26 and a fifty-two week high of $197.84.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Scotiabank raised their price objective on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. StockNews.com raised FirstService from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. TD Securities upped their price objective on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Raymond James boosted their price target 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, Stifel Nicolaus increased their price objective on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.