Carriage Services, Inc. (NYSE:CSV) Announces $0.11 Quarterly Dividend

Carriage Services, Inc. (NYSE:CSV) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Stockholders 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 dividend yield of 1.12%. The ex-dividend date is Monday, February 3rd.

Carriage Services has raised its dividend by an average of 2.9% per year over the last three years. Carriage Services has a dividend 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 Price Performance

Carriage Services stock opened at $40.18 on Friday. The stock has a market capitalization of $611.49 million, a P/E ratio of 18.02, a P/E/G ratio of 0.91 and a beta of 0.93. The company’s fifty day moving average price is $39.74 and its 200 day moving average price is $34.48. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. Carriage Services has a 1 year low of $22.84 and a 1 year high of $42.13.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The business had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same quarter last year, the business earned $0.33 earnings per share. As a group, equities research analysts anticipate that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction dated 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. The trade was a 12.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Barrington Research increased their target price on Carriage Services from $45.00 to $50.00 and gave the company 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.