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

Carriage Services, Inc. (NYSE:CSV - Get Free Report) announced a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders of record on Monday, August 4th will be paid a dividend of 0.1125 per share on Tuesday, September 2nd. This represents a $0.45 annualized dividend and a dividend yield of 0.96%.

Carriage Services has a dividend payout ratio of 13.4% meaning its dividend is sufficiently covered by earnings. 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 Up 2.1%

Shares of CSV traded up $0.97 during mid-day trading on Wednesday, hitting $46.78. The company's stock had a trading volume of 59,547 shares, compared to its average volume of 108,122. The company's 50-day moving average is $44.42 and its 200-day moving average is $41.17. Carriage Services has a 52-week low of $28.50 and a 52-week high of $47.48. The firm has a market capitalization of $733.98 million, a price-to-earnings ratio of 15.65, a PEG ratio of 0.97 and a beta of 0.89. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 2.35.

Carriage Services (NYSE:CSV - Get Free Report) last posted its 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. Carriage Services had a net margin of 11.50% and a return on equity of 21.96%. The company had revenue of $8.47 million during the quarter, compared to analysts' expectations of $104.17 million. On average, equities research analysts forecast that Carriage Services will post 2.5 EPS for the current fiscal year.

Insider Activity

In other Carriage Services news, President Steven D. Metzger sold 3,508 shares of the firm's stock in a transaction on 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 owned 81,389 shares of the company's stock, valued at approximately $3,262,885.01. This trade represents a 4.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 9,348 shares of company stock valued at $378,420 over the last three months. Company insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp raised its holdings 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 worth $36,000 after buying an additional 868 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 312 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Carriage Services during the first quarter worth $689,000. Hedge funds and other institutional investors own 66.46% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barrington Research reissued an "outperform" rating and set a $50.00 target price on shares of Carriage Services in a research report on Thursday, May 1st. 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, Roth Mkm reaffirmed a "buy" rating and issued a $51.00 price target (up previously from $48.00) on shares of Carriage Services in a report on Friday, May 2nd.

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.

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