Topic: Growth Stocks

FirstService Corp. $53.00 – Toronto symbol FSV

FIRSTSERVICE CORP. $53.00 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 34.6 million; Market cap: $1.9 billion; Dividend yield: 1.1%) provides residential property management and property improvement services.

In the three months ended December 31, 2015, the company’s revenue gained 12.0%, to $316.1 million from $282.2 million a year earlier (all figures except share price in U.S. dollars). Excluding one-time items, earnings per share more than doubled, to $0.28 from $0.13. The higher earnings came from the increased revenue, cost cuts and a focus on more profitable business units.

FirstService is raising its quarterly dividend by 10.0% with the April 2016 payment, to $0.11 U.S. from $0.10 U.S. The stock now yields 1.1%.

FirstService is a hold.

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