Carriage Services, Inc. (CSV) To Go Ex-Dividend on November 10th
Carriage Services, Inc. (NYSE:CSV) announced a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Monday, November 13th will be paid a dividend of 0.075 per share on Friday, December 1st. This represents a $0.30 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, November 10th. This is a boost from Carriage Services’s previous quarterly dividend of $0.05.
Carriage Services has raised its dividend by an average of 14.5% annually over the last three years. Carriage Services has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carriage Services to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 16.7%.
Shares of Carriage Services (NYSE CSV) opened at $25.74 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.70 and a debt-to-equity ratio of 1.86. Carriage Services has a 52 week low of $23.15 and a 52 week high of $29.11. The company has a market cap of $414.03, a PE ratio of 18.93, a P/E/G ratio of 1.23 and a beta of 0.96.
Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, October 25th. The company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.12). Carriage Services had a net margin of 7.29% and a return on equity of 13.54%. The business had revenue of $61.10 million for the quarter, compared to analysts’ expectations of $62.86 million. During the same quarter last year, the business posted $0.43 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. research analysts forecast that Carriage Services will post 1.39 EPS for the current fiscal year.
In related news, CEO Melvin C. Payne sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $23.85, for a total value of $2,385,000.00. Following the sale, the chief executive officer now directly owns 1,131,753 shares of the company’s stock, valued at $26,992,309.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Raymond Schenck bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was bought at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the transaction, the director now directly owns 5,061 shares of the company’s stock, valued at approximately $129,156.72. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.
CSV has been the subject of several recent research reports. BidaskClub downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Carriage Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th.
Carriage Services declared that its board has authorized a stock buyback plan on Wednesday, October 25th that allows the company to buyback $15.00 million in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Carriage Services Company Profile
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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