Carriage Services, Inc. (CSV) to Issue Quarterly Dividend of $0.11 on March 3rd

Carriage Services, Inc. (NYSE:CSV) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Investors of record on Monday, February 3rd will be paid a dividend of 0.1125 per share on Monday, March 3rd. This represents a $0.45 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, February 3rd.

Carriage Services has increased its dividend by an average of 2.9% annually over the last three years. Carriage Services has a payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carriage Services to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.45 annual dividend with an expected future payout ratio of 16.0%.

Carriage Services Trading Down 1.6 %

CSV opened at $40.90 on Friday. The company has a fifty day moving average price of $40.06 and a two-hundred day moving average price of $35.42. Carriage Services has a 1-year low of $22.96 and a 1-year high of $42.67. The company has a market cap of $622.50 million, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 0.99 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.19. The business had revenue of $100.69 million during the quarter, compared to analyst estimates of $93.49 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same period in the previous year, the company posted $0.33 EPS. Analysts predict that Carriage Services will post 2.5 EPS for the current fiscal year.

Insider Activity

In other news, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the transaction, the vice president now directly owns 34,166 shares of the company’s stock, valued at $1,290,791.48. This represents a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research boosted their price objective on Carriage Services from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, January 6th.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.