FirstService (NASDAQ:FSV) Releases Earnings Results, Beats Estimates By $0.21 EPS

FirstService (NASDAQ:FSV) (TSE:FSV) posted its quarterly earnings data on Thursday. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.21, Briefing.com reports. FirstService had a return on equity of 15.60% and a net margin of 1.73%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $1.18 EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year.

FirstService Stock Up 0.0 %

Shares of FirstService stock traded up $0.04 during trading on Friday, hitting $189.69. 86,222 shares of the stock traded hands, compared to its average volume of 82,817. The stock has a market cap of $8.53 billion, a P/E ratio of 93.91 and a beta of 1.05. The company has a fifty day moving average price of $180.92 and a two-hundred day moving average price of $164.48. FirstService has a twelve month low of $134.77 and a twelve month high of $192.71. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.84 and a current ratio of 1.84.

FirstService Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, September 30th. FirstService’s payout ratio is currently 49.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price 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. Royal Bank of Canada increased their target price on FirstService from $187.00 to $192.00 and gave the company an “outperform” rating in a report on Friday, July 26th. TD Securities raised their target price on FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a research report on Thursday, October 17th. Scotiabank upped their price target on FirstService from $190.00 to $200.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded FirstService from a “hold” rating to a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $198.33.

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.