FIRSTSERVICE CORP. $48.83 - Toronto symbol FSV

FIRSTSERVICE CORP. $48.83 (Toronto symbol FSV; TSINetwork Rating: Extra Risk) (416-960-9500; www.firstservice.com; Shares outstanding: 34.6 million; Market cap: $1.8 billion; Dividend yield: 1.1%) is a leading North American provider of residential property management and property improvement services.

In the three months ended September 30, 2015, the company’s revenue gained 12.0%, to $349.5 million from $312.0 million a year earlier (all figures except share price and market cap in U.S. dollars). Excluding one-time items, earnings per share jumped 28.2%, to $0.50 from $0.39. The second and third quarters are FirstService’s busiest.

The company’s outlook remains strong. However, the stock trades at a high 30.5 times the $1.20 a share FirstService will likely earn this year.

FirstService is a hold.

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