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

Carriage Services, Inc. (NYSE:CSVGet Rating) declared a quarterly dividend on Thursday, April 21st, Zacks reports. Investors of record on Monday, May 9th will be paid a dividend of 0.112 per share on Wednesday, June 1st. This represents a $0.45 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, May 6th.

Carriage Services has a payout ratio of 11.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Carriage Services to earn $3.87 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 11.6%.

Shares of Carriage Services stock opened at $49.59 on Friday. Carriage Services has a 52 week low of $34.10 and a 52 week high of $66.33. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 4.32. The stock has a market cap of $760.07 million, a PE ratio of 26.66, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The company’s 50-day moving average price is $51.98 and its two-hundred day moving average price is $52.61.

Carriage Services (NYSE:CSVGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.02. Carriage Services had a net margin of 8.82% and a return on equity of 27.47%. The company had revenue of $95.93 million for the quarter, compared to analysts’ expectations of $92.79 million. During the same quarter in the previous year, the company posted $0.57 EPS. On average, equities analysts predict that Carriage Services will post 3.55 EPS for the current fiscal year.

A number of brokerages have recently commented on CSV. started coverage on Carriage Services in a research report on Thursday, March 31st. They set a “hold” rating for the company. Barrington Research upped their target price on Carriage Services from $60.00 to $65.00 in a report on Thursday, February 24th. B. Riley increased their price target on Carriage Services from $60.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, December 28th. Finally, Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Monday, February 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $67.60.

In other news, SVP Shawn R. Phillips sold 1,201 shares of the stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $51.16, for a total transaction of $61,443.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adeola Olaniyan sold 595 shares of the firm’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $54.66, for a total value of $32,522.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,322 shares of company stock valued at $119,998. Corporate insiders own 11.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors lifted its stake in Carriage Services by 67.0% in the third quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock valued at $35,000 after acquiring an additional 313 shares during the last quarter. State of Tennessee Treasury Department bought a new stake in shares of Carriage Services in the 4th quarter valued at about $180,000. BNP Paribas Arbitrage SA lifted its stake in Carriage Services by 169.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 4,392 shares of the company’s stock valued at $196,000 after purchasing an additional 2,762 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Carriage Services during the fourth quarter worth about $322,000. Finally, Guggenheim Capital LLC increased its position in Carriage Services by 4.1% during the fourth quarter. Guggenheim Capital LLC now owns 5,713 shares of the company’s stock worth $368,000 after buying an additional 223 shares during the last quarter. 72.46% of the stock is owned by hedge funds and other institutional investors.

Carriage Services Company Profile (Get Rating)

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

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Dividend History for Carriage Services (NYSE:CSV)

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