FirstService Hits New 1-Year High on Better-Than-Expected Earnings (FSRV)
FirstService (NASDAQ:FSRV)’s share price hit a new 52-week high on Wednesday following a better than expected earnings announcement, American Banking News reports. The stock traded as high as $44.21 and last traded at $43.20, with a volume of 22,297 shares changing hands. The stock had previously closed at $41.93.
The company reported $0.97 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.18. The company had revenue of $691.70 million for the quarter, compared to the consensus estimate of $664.98 million. During the same quarter last year, the company posted $0.68 earnings per share. FirstService’s revenue was up 9.3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, March 27th.
Separately, analysts at Zacks downgraded shares of FirstService from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 31st. They now have a $45.00 price target on the stock.
The stock has a 50-day moving average of $41.51 and a 200-day moving average of $39.84. The company’s market cap is $1.550 billion.
FirstService Corporation (NASDAQ:FSRV) is engaged in the property services sector, providing services in commercial real estate, residential property management and property services.
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