Latest news with #FirstService
Yahoo
01-08-2025
- Business
- Yahoo
FirstService (FSV) is an Incredible Growth Stock: 3 Reasons Why
Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. That's because, these stocks usually carry above-average risk and volatility. In fact, betting on a stock for which the growth story is actually over or nearing its end could lead to significant loss. However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects, makes it pretty easy to find cutting-edge growth stocks. FirstService (FSV) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank. Research shows that stocks carrying the best growth features consistently beat the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better. While there are numerous reasons why the stock of this property services provider is a great growth pick right now, we have highlighted three of the most important factors below: Earnings Growth Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration. While the historical EPS growth rate for FirstService is 22%, investors should actually focus on the projected growth. The company's EPS is expected to grow 17% this year, crushing the industry average, which calls for EPS growth of 2.1%. Cash Flow Growth Cash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds. Right now, year-over-year cash flow growth for FirstService is 17%, which is higher than many of its peers. In fact, the rate compares to the industry average of -1.8%. While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 31% over the past 3-5 years versus the industry average of 0.5%. Promising Earnings Estimate Revisions Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements. The current-year earnings estimates for FirstService have been revising upward. The Zacks Consensus Estimate for the current year has surged 5.5% over the past month. Bottom Line FirstService has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #1 because of the positive earnings estimate revisions. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. This combination positions FirstService well for outperformance, so growth investors may want to bet on it. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FirstService Corporation (FSV) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
09-07-2025
- Business
- Globe and Mail
FirstService to Announce Second Quarter Results on July 24, 2025
TORONTO, July 09, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) ('FirstService') announced today that it will release its financial results for the second quarter ended June 30, 2025 by press release on Thursday, July 24, 2025 at approximately 7:30 am ET. The conference call to review these financial results will take place at 11:00 am ET on Thursday, July 24, 2025, and will be hosted by D. Scott Patterson, CEO, and Jeremy Rakusin, CFO. This call is being webcast live at the Company's website at Participants may register for the call here to receive the dial-in number and their unique PIN. To join the webcast in listen only mode, use this link: It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call). A webcast replay of the call will be available on the Company's website following the call, in the 'Investors' section under the tab 'Newsroom'. About FirstService Corporation FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded company-owned operations and franchise systems. FirstService generates more than US$5.3 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV" and are included in the S&P/TSX 60 index. D. Scott Patterson Chief Executive Officer (416) 960-9566 Jeremy Rakusin Chief Financial Officer (416) 960-9566
Forbes
24-06-2025
- Business
- Forbes
These 3 Big Dividends Just Got Cut. They're Safer Than Ever
Hundred Dollar Bill Being Cut With a Scissor If you invest for long enough, you may hear a skeptic of high-yield investments—such as 8%+ yielding closed-end funds (CEFs)—say something like: 'Sure, you're getting a lot of income now, but what if that dividend gets cut?' Today we're going to answer that with a look at how a dividend cut can actually send a CEF (or any dividend investment, really) on a profitable run. We'll do it by looking at three CEFs that followed this exact pattern: Cutting dividends and then going on to give investors huge returns for years and years. These funds show that a dividend cut on its own isn't reason enough to avoid an investment. It could, in fact, be a buy signal. ASG Ties Payouts to Portfolio Gains—and Delivers Triple-Digit Total Returns Let's start with the Liberty All-Star Growth Fund (ASG), which yields 8.2% as I write this and trades at a 7.7% discount to net asset value (NAV, or the value of its underlying portfolio). Put another way, the fund's portfolio is valued at just over 92 cents on the dollar. That portfolio consists of a basket of large- and midcap stocks, with holdings like NVIDIA (NVDA) and Meta Platforms (META) alongside firms such as property manager FirstService (FSV) and Ollie's Bargain Outlet Holdings (OLLI), which runs a chain of discount stores. The fund uses an approach to dividends that a handful of other CEFs also follow: It commits to paying 8% of its NAV in payouts each year (in ASG's case through four quarterly installments). That means that the dividend does tend to float, and the latest one is about 17% below where it was a decade or so ago. Now in light of that policy, this dividend 'cut' is a little different than one we might see at a fund with a fixed payout, like the two we'll examine next. But regardless, ASG's lower payout might cause some investors to pass on the fund. That's too bad for them, since ASG has delivered plenty of special dividends in the last decade (the spikes in the chart above), culminating in a 162% total return (with price gains and reinvested dividends). Did ASG's payout technically decline? Yes. But that strong total return more than makes up for it, proving that the lower payout is a poor reason to avoid this well-run CEF. A 13.6%-Yielder That's Made a Smart Dividend 'Cut ' Our next fund yields well into the double digits: the 13.6%-yielding BlackRock Technology and Private Equity Term Trust (BTX). As the name says, BTX holds well-known tech stocks like NVIDIA, (AMZN) and Apple (AAPL). It also holds a collection of private-equity investments. We added BTX to my CEF Insider service in our April 2025 issue. But before then we avoided it, partly because its IPO was in 2021, when many tech firms, and many of the PE investments BTX's former management team purchased, were overvalued. BTX, which replaced its managers at the end of January, has only recently traded at what I would consider a buyable price. We've been more than happy that we were patient! In less than two months since our buy call, BTX has returned 16%, as of this writing. Even with its recent dividend cut (more on that in a moment), BTX's current yield still translates to more than $11,000 per month on every $1 million invested. But you could easily miss this if you just looked at its dividend history. BTX Dividend Of course, a 19.3% decline in the last five years jumps out, and that gentle slide lower at the right side of the chart also looks like it could be a warning sign. Let's take the second point first: That slide is due to the fact that the fund's previous management team overdid it on their last dividend hike. The new team is gradually adjusting lower. That's not a reason to worry. Meantime, a major reason why BTX's yield so high is that the fund remains underpriced, even after its recent run (as yields and share prices move in opposite directions). As you can see above, at the start of the year, it traded at a double-digit discount that has since narrowed to around 2%. That's a major reason for the 16% total return we've realized from this fund at CEF Insider. So, even if BTX's 13.6% yield is at risk of moving lower, investors who've bought the fund are still doing fine, thanks to the stock-price appreciation they've realized. (And of course, the huge income stream, which remains so even with a decline.) In other words, a continued gradual drift lower in the payout is fine, as long as BTX's portfolio keeps rising. We've seen that happen consistently over the last couple of months, and I expect it to continue as the fund's discount moves closer to becoming a premium. Growth More Than Offsets This Payout Cut Finally, let's consider another 'cutter' that's (now) delivering consistent income: the Pioneer High Income Fund (PHT), which holds high-yield corporate bonds. PHT's portfolio has been appreciating, despite volatile markets, as the Fed postponed rate cuts. The longer the central bank holds off, the more high-yield, longer-duration bonds PHT can buy (these bonds become more valuable as interest rates decline). PHT has had a 15.6% annualized return over the last three years, as of this writing, as it recovered from the 2022 selloff. And look at what the dividend did in that time: PHT Dividend That 12% payout cut happened while PHT was delivering those same strong returns. Sure, the dividend—current yield 8.2%—made up a smaller part of PHT's 15.6% annualized return due to the cuts, but capital gains more than made up the difference. In a situation like that, does the lower dividend really matter? Look at it this way: Every dollar put into PHT three years ago now earns a 9.6% yield on an investor's original cost. And on the price front, every dollar is now worth $1.17. These funds are just three examples of how dividend cuts are only one part of the story when looking at high-yield investments like CEFs—and how they can actually spark a turnaround in an investment's performance. That said, it's also true that you can't just put all of your money in one CEF and rely on that payout for the rest of your life. But it is possible to tap a strong income stream and, with just a bit of elbow grease, rebalance your portfolio every now and then to secure that income stream. And, of course, capital gains are also on the table to grow your portfolio in the long run. Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great income ideas, click here for our latest report 'Indestructible Income: 5 Bargain Funds with Steady 10% Dividends.' Disclosure: none
Associated Press
15-05-2025
- Business
- Associated Press
Century Fire Protection Expands Geographic Footprint to Western U.S.
TORONTO, May 15, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) ('FirstService') announced today that its subsidiary, Century Fire Protection ('Century'), has recently acquired TST Fire Protection, Inc. ('TST') and Alliance Fire & Safety ('Alliance'), two related fire protection companies based in Utah. The leadership teams of both companies will continue to lead day-to-day operations and will retain minority equity interests. Terms of the transaction were not disclosed. Founded in 1998 and based in Salt Lake City, Utah, TST is a leading fire sprinkler installation company serving the northern region of Utah. TST provides fire sprinkler system design, installation, inspection and repair services to a wide variety of commercial clients and large-scale warehouse distribution property owners. Headquartered in St. George, Utah and established in 2014, Alliance designs and installs fire sprinkler and other suppression systems, alarms and extinguishers for commercial and industrial clients in the southern region of Utah. 'The addition of these companies establishes a new geographic beachhead, providing Century with an attractive growth platform in the Western U.S.,' said Richard Deeb, CEO of Century. 'TST and Alliance collectively bring comprehensive coverage across the state of Utah, with an opportunity to better serve their clients by adding broader service capabilities and expanding into adjacent markets in the coming years. We welcome the TST and Alliance teams to the Century family and are excited to add them as partners in driving further growth across our combined operations.' ABOUT FIRSTSERVICE CORPORATION FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential, North America's largest manager of residential communities; and FirstService Brands, one of North America's largest providers of essential property services delivered through individually branded company-owned operations and franchise systems. FirstService generates more than $5.3 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol 'FSV', and are included in the S&P/TSX 60 Index. More information is available at COMPANY CONTACT: Jeremy Rakusin CFO FirstService Corporation (416) 960-9566
Cision Canada
08-05-2025
- Business
- Cision Canada
FirstService Residential Acquires Core Real Estate Group
Acquisition expands FirstService Residential's footprint in Edmonton, Alberta, and Western Canada EDMONTON, AB, May 8, 2025 /CNW/ - FirstService Residential announced the acquisition of Edmonton-based Core Real Estate Group. Core Real Estate Group, serving residential properties in Edmonton since 2011, manages more than 15,000 residential units. The acquisition brings the number of residential units under FirstService management in Canada to more than 250,000, reinforcing FirstService's leadership position in property management in Canada. "We are proud to welcome Core Real Estate Group to our organization," said David Diestel, chief executive officer of FirstService Residential. "This partnership with David Brown and his team is key for us as we continue to invest and expand our presence in Western Canada. Together, we will bring new local expertise and our scale to benefit the communities that we serve." "Our shared commitment to customer-focused service and innovation will help us better serve these residential communities," said Glenne Manlig, president of FirstService's operations in Alberta. "As one example, our new communities will leverage our Resident Support Services team and technology to respond quickly to questions from residents, allowing community managers to focus on projects that are important for our managed communities in Edmonton." "We are excited to partner with FirstService," said David Brown, founder of Core Real Estate Group. "Our team will be joining a Great Place To Work® and a company listed as one of Canada's Best Workplaces™. Our customers will benefit from combined expertise, industry-leading best practices, and property management resources, further enhancing the level of service they receive. About FirstService Residential FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident. Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support. Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care. FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ andTSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.
