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

Carriage Services, Inc. (NYSE:CSV) declared a quarterly dividend on Thursday, January 16th,RTT News reports. Shareholders of record on Monday, February 3rd will be given a dividend of 0.1125 per share on Monday, March 3rd. This represents a $0.45 annualized dividend and a yield of 1.13%.

Carriage Services has increased 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% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of Carriage Services stock opened at $39.83 on Friday. Carriage Services has a 12 month low of $22.84 and a 12 month high of $42.13. The stock’s fifty day moving average price is $39.72 and its 200-day moving average price is $34.39. The firm has a market cap of $606.23 million, a P/E ratio of 17.86, a P/E/G ratio of 0.91 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 posted 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. 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 the consensus estimate of $93.49 million. During the same quarter last year, the firm posted $0.33 EPS. On average, equities research analysts expect that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Barrington Research raised their target price on shares of Carriage Services from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, January 6th.

Insiders Place Their Bets

In related news, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.30% of the company’s stock.

About Carriage Services

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.