FirstService (NASDAQ:FSV) Posts Earnings Results, Beats Expectations By $0.21 EPS

FirstService (NASDAQ:FSV) (TSE:FSV) posted its quarterly earnings results 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 net margin of 1.73% and a return on equity of 15.60%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $1.18 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis.

FirstService Trading Up 0.0 %

Shares of FSV stock traded up $0.04 during trading hours on Friday, hitting $189.69. 86,222 shares of the company’s stock traded hands, compared to its average volume of 82,817. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. FirstService has a 12 month low of $134.77 and a 12 month high of $192.71. The stock has a market cap of $8.53 billion, a PE ratio of 93.91 and a beta of 1.05. The stock’s 50 day simple moving average is $180.92 and its 200 day simple moving average is $164.48.

FirstService Dividend Announcement

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

Analyst Ratings Changes

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