FirstService Corporation (NASDAQ:FSV) Plans $0.28 Quarterly Dividend

Key Points

• FirstService Corporation announced a quarterly dividend of $0.28, with stockholders set to receive the payment on October 7th.
• The company reported a net margin of 2.61% and earnings per share (EPS) of $1.71, exceeding analysts' expectations during its latest earnings release.
• FirstService's dividend payout ratio is currently at 17.7%, indicating that future dividends are well-supported by earnings projections.

FirstService Corporation (NASDAQ:FSV - Get Free Report) TSE: FSV announced a quarterly dividend on Tuesday, September 9th, Wall Street Journal reports. Shareholders of record on Tuesday, September 30th will be paid a dividend of 0.275 per share by the financial services provider on Tuesday, October 7th. This represents a c) dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 30th.

FirstService has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. 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 Up 0.3%

FSV stock traded up $0.52 during midday trading on Monday, reaching $204.93. 206,606 shares of the company traded hands, compared to its average volume of 133,139. FirstService has a 52-week low of $153.13 and a 52-week high of $209.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.76 and a current ratio of 1.76. The business has a 50 day moving average of $193.91 and a 200-day moving average of $179.90. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 65.68 and a beta of 0.96.

FirstService (NASDAQ:FSV - Get Free Report) TSE: FSV last announced its earnings results on Thursday, July 24th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.26. FirstService had a return on equity of 18.24% and a net margin of 2.61%.The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business earned $1.36 earnings per share. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that FirstService will post 5.27 earnings per share for the current fiscal year.

Institutional Trading of FirstService

A number of hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. lifted its holdings in FirstService by 28.8% during the second quarter. Osaic Holdings Inc. now owns 1,759 shares of the financial services provider's stock worth $307,000 after buying an additional 393 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in FirstService by 2.5% during the second quarter. Orion Porfolio Solutions LLC now owns 13,327 shares of the financial services provider's stock worth $2,327,000 after buying an additional 331 shares during the period. Geneos Wealth Management Inc. grew its position in shares of FirstService by 63.7% in the 2nd quarter. Geneos Wealth Management Inc. now owns 203 shares of the financial services provider's stock worth $35,000 after buying an additional 79 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its position in shares of FirstService by 1.8% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,502 shares of the financial services provider's stock worth $1,310,000 after buying an additional 133 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in shares of FirstService by 2.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,076 shares of the financial services provider's stock worth $710,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.35% of the company's stock.

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.