FirstService (TSE:FSV) Reaches New 1-Year High - Still a Buy?

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%.

FirstService Co. (TSE:FSV - Get Free Report) NASDAQ: FSV's share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$286.18 and last traded at C$283.71, with a volume of 102043 shares changing hands. The stock had previously closed at C$285.24.

Analyst Ratings Changes

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

FirstService Trading Down 0.6%

The stock has a fifty day moving average of C$267.84 and a 200 day moving average of C$249.98. The company has a debt-to-equity ratio of 136.54, a quick ratio of 1.25 and a current ratio of 1.81. The company has a market capitalization of C$12.77 billion, a PE ratio of 89.86, a PEG ratio of 107.75 and a beta of 0.95.

FirstService Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors 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 is presently 33.65%.

Insider Buying and Selling

In related news, Senior Officer Jeremy Alan Rakusin sold 2,800 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of C$273.24, for a total value of C$765,072.00. Also, Director Erin Joy Wallace sold 3,000 shares of the company's stock in a transaction that occurred 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. Over the last three months, insiders sold 8,800 shares of company stock worth $2,316,805. 10.26% of the stock is owned by insiders.

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.