Carriage Services, Inc. (NYSE:CSV) to Issue Quarterly Dividend of $0.05 on September 1st
Carriage Services, Inc. (NYSE:CSV) announced a quarterly dividend on Friday, July 28th, Wall Street Journal reports. Shareholders of record on Monday, August 14th will be given a dividend of 0.05 per share on Friday, September 1st. This represents a $0.20 annualized dividend and a yield of 0.82%. The ex-dividend date is Thursday, August 10th.
Carriage Services has raised its dividend payment by an average of 14.5% annually over the last three years. Carriage Services has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carriage Services to earn $1.72 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 11.6%.
Shares of Carriage Services (CSV) opened at 24.32 on Wednesday. The stock has a market cap of $406.63 million, a PE ratio of 20.59 and a beta of 0.92. Carriage Services has a 12-month low of $22.53 and a 12-month high of $29.11. The firm has a 50-day moving average price of $26.46 and a 200 day moving average price of $26.67.
Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.10. The business had revenue of $63.87 million during the quarter, compared to analysts’ expectations of $64.35 million. Carriage Services had a return on equity of 15.25% and a net margin of 8.35%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. Equities research analysts predict that Carriage Services will post $1.62 EPS for the current fiscal year.
CSV has been the subject of several research analyst reports. BidaskClub downgraded Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Zacks Investment Research raised Carriage Services from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $82.00 price target on shares of Carriage Services in a research note on Monday, June 12th.
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About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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