Comfort Systems USA, Inc. (NYSE:FIX) Increases Dividend to $0.90 Per Share

Key Points

• Comfort Systems USA raised its quarterly dividend to $0.90 per share, up 12.5% from $0.80, with the payment scheduled for August 24 to shareholders of record on August 13.
• The new dividend implies a relatively small 0.2% yield, but the payout appears well covered, with a 15.2% payout ratio and analysts expecting continued earnings strength.
• The company delivered a strong quarterly report, posting $12.53 EPS and $3.27 billion in revenue, both above estimates, while revenue jumped 50.3% year over year.

Comfort Systems USA, Inc. (NYSE:FIX - Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Shareholders of record on Thursday, August 13th will be given a dividend of 0.90 per share by the construction company on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Thursday, August 13th. This is a 12.5% increase from Comfort Systems USA's previous quarterly dividend of $0.80.

Comfort Systems USA has raised its dividend by an average of 0.4%per year over the last three years and has increased its dividend annually for the last 13 consecutive years. Comfort Systems USA has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Comfort Systems USA to earn $52.93 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 6.0%.

Comfort Systems USA Price Performance

Shares of NYSE FIX opened at $1,830.08 on Friday. Comfort Systems USA has a twelve month low of $543.24 and a twelve month high of $2,073.99. The stock's 50 day moving average price is $1,841.07 and its 200-day moving average price is $1,567.54. The company has a market capitalization of $64.42 billion, a PE ratio of 52.80 and a beta of 1.66. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating analysts' consensus estimates of $10.45 by $2.08. The company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $2.99 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.Comfort Systems USA's revenue was up 50.3% on a year-over-year basis. During the same period last year, the business posted $6.53 earnings per share. On average, equities analysts anticipate that Comfort Systems USA will post 43.39 EPS for the current year.

About Comfort Systems USA

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.

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