FirstService (NASDAQ:FSV) Announces Earnings Results

by · The Cerbat Gem

FirstService (NASDAQ:FSV – Get Free Report) (TSE:FSV) announced its quarterly earnings results on Thursday. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.21, Briefing.com reports. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. FirstService had a net margin of 1.73% and a return on equity of 15.60%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS.

FirstService Trading Up 0.0 %

Shares of NASDAQ FSV traded up $0.04 during midday trading on Friday, hitting $189.69. The stock had a trading volume of 86,222 shares, compared to its average volume of 82,817. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 1.84. FirstService has a fifty-two week low of $134.77 and a fifty-two week high of $192.71. The firm has a market cap of $8.53 billion, a P/E ratio of 93.91 and a beta of 1.05. The company’s 50-day simple moving average is $180.92 and its 200 day simple moving average is $164.48.

FirstService Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FSV shares. Scotiabank increased their target price on FirstService from $190.00 to $200.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 15th. Stifel Nicolaus boosted their target price on shares of FirstService from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com raised shares of FirstService from a “hold” rating to a “buy” rating in a report on Friday. TD Securities raised their price objective on shares of FirstService from $179.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on FirstService from $187.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.33.

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FirstService Company Profile

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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.

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