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

Carriage Services, Inc. (NYSE:CSV - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Monday, August 4th will be given a dividend of 0.1125 per share on Tuesday, September 2nd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Monday, August 4th.

Carriage Services has a payout ratio of 13.4% indicating that 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 traded down $0.24 on Friday, reaching $46.58. 90,616 shares of the company traded hands, compared to its average volume of 107,484. Carriage Services has a 52 week low of $28.79 and a 52 week high of $47.48. The company has a 50 day moving average of $44.64 and a 200 day moving average of $41.29. The firm has a market capitalization of $730.76 million, a PE ratio of 15.58, a PEG ratio of 0.98 and a beta of 0.89. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.95 and a quick ratio of 0.80.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.16. The company had revenue of $8.47 million for the quarter, compared to analysts' expectations of $104.17 million. Carriage Services had a net margin of 11.50% and a return on equity of 21.96%. Equities analysts forecast that Carriage Services will post 2.5 earnings per share for the current year.

Insider Transactions at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 3,508 shares of Carriage Services stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $40.09, for a total value of $140,635.72. Following the completion of the transaction, the president directly owned 81,389 shares of the company's stock, valued at approximately $3,262,885.01. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 9,348 shares of company stock worth $378,420. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Carriage Services

A number of hedge funds have recently modified their holdings of CSV. Jones Financial Companies Lllp raised its stake in shares of Carriage Services by 1,736.0% in the first quarter. Jones Financial Companies Lllp now owns 918 shares of the company's stock valued at $36,000 after acquiring an additional 868 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Carriage Services by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,090 shares of the company's stock worth $313,000 after purchasing an additional 312 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Carriage Services during the 1st quarter worth about $689,000. 66.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CSV. Roth Mkm restated a "buy" rating and set a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a research report on Friday, May 2nd. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Barrington Research restated an "outperform" rating and set a $50.00 price objective on shares of Carriage Services in a research report on Thursday, May 1st.

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.