FirstService (TSE:FSV) Hits New 52-Week High - Here's Why

Key Points

• FirstService Co. reached a new 52-week high, trading at C$286.18, with a market capitalization of C$12.92 billion.
• TD Securities updated their target price for the stock from C$211.00 to C$214.00, maintaining a "hold" rating.
• The company announced a quarterly dividend of $0.275 per share, representing a yield of 0.4% and a payout ratio of 33.65%.

Shares of FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV reached a new 52-week high on Thursday . The company traded as high as C$286.18 and last traded at C$283.71, with a volume of 102043 shares traded. The stock had previously closed at C$285.24.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their target price on shares of FirstService from C$211.00 to C$214.00 and gave the stock a "hold" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, FirstService has an average rating of "Hold" and an average price target of C$214.00.

FirstService Price Performance

The stock has a fifty day moving average of C$265.28 and a 200-day moving average of C$249.36. The company has a quick ratio of 1.25, a current ratio of 1.81 and a debt-to-equity ratio of 136.54. The stock has a market capitalization of C$12.92 billion, a price-to-earnings ratio of 90.93, a P/E/G ratio of 107.75 and a beta of 0.95.

FirstService Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.4%. FirstService's dividend payout ratio (DPR) is currently 33.65%.

Insiders Place Their Bets

In other news, Director Erin Joy Wallace sold 3,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of C$241.51, for a total value of C$724,519.02. Also, Senior Officer Jeremy Alan Rakusin sold 2,800 shares of FirstService stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of C$273.24, for a total value of C$765,072.00. In the last 90 days, insiders sold 8,800 shares of company stock valued at $2,316,805. Company insiders own 10.26% of the company's stock.

About FirstService

FirstService Corp operates in two business divisions: FirstService Residential and FirstService Brands. FirstService Residential has service contracts to manage thousands of residential communities, including high-, medium-, and low-rise condominiums and co-operatives, and generates most of the company's revenue.

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