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

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 Monday, April 7th. This represents a $1.10 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Monday, March 31st. This is a 10.0% increase from FirstService’s previous quarterly dividend of $0.25.

FirstService has raised its dividend by an average of 11.1% per year over the last three years. FirstService has a dividend payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FirstService to earn $5.91 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 18.6%.

FirstService Trading Down 1.7 %

NASDAQ FSV opened at $166.05 on Friday. The firm has a market capitalization of $7.55 billion, a PE ratio of 55.91 and a beta of 1.12. The business’s 50-day moving average price is $174.82 and its two-hundred day moving average price is $181.38. The company has a current ratio of 1.75, a quick ratio of 1.79 and a debt-to-equity ratio of 1.09. FirstService has a 12 month low of $141.26 and a 12 month high of $197.84.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Raymond James raised their price target on shares of FirstService from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. StockNews.com lowered FirstService from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.