FirstService (NASDAQ:FSV) Posts Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• FirstService beat earnings expectations: Quarterly EPS was $1.89, topping the $1.84 consensus and rising from $1.76 a year earlier. Revenue increased 5.8% year over year.
• The company maintained its dividend: FirstService paid a quarterly dividend of $0.305 per share, equivalent to $1.22 annually and a 0.8% yield.
• Analysts remain generally positive: Eight analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $183.70.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV released its quarterly earnings data on Thursday. The financial services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.84 by $0.05, Briefing.com reports. FirstService had a return on equity of 18.07% and a net margin of 2.88%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS.

FirstService Stock Performance

NASDAQ FSV opened at $144.45 on Thursday. FirstService has a 52-week low of $119.41 and a 52-week high of $189.05. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $6.31 billion, a P/E ratio of 41.05, a P/E/G ratio of 3.07 and a beta of 0.95. The company has a fifty day moving average of $135.57 and a 200-day moving average of $138.69.

FirstService Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.3050 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.22 annualized dividend and a dividend yield of 0.8%. FirstService's dividend payout ratio (DPR) is 34.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FSV shares. BMO Capital Markets reduced their target price on FirstService from $199.00 to $192.00 and set an "outperform" rating for the company in a report on Friday, July 24th. TD upped their price target on FirstService from $204.00 to $207.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Scotiabank set a $170.00 price target on shares of FirstService in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $144.00 price objective on shares of FirstService in a research report on Friday, July 24th. Finally, Canadian Imperial Bank of Commerce set a $170.00 price objective on shares of FirstService in a research report on Thursday, October 15th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, FirstService presently has an average rating of "Moderate Buy" and a consensus target price of $183.70.

FirstService Company Profile

FirstService Corporation is a Canadian provider of property management and property services serving customers primarily in the United States and Canada. The company operates through two main businesses: FirstService Residential and FirstService Brands.

FirstService Residential provides property management services for condominium and homeowners' associations, cooperatives, and other residential communities. Its services include community administration, financial management, maintenance coordination, customer support, and related operational services.

FirstService Brands operates and supports a network of property-service businesses, including companies involved in property restoration, painting, flooring, window treatments, and other residential and commercial services.

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