Analysts Anticipate Carriage Services, Inc. (CSV) to Post $0.39 EPS

Carriage Services, Inc. (NYSE:CSV) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price target of $30.00 for the company and are predicting that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 66 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised Carriage Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th.

Carriage Services (NYSE:CSV) traded up $0.20 during trading hours on Wednesday, reaching $26.12. The company’s stock had a trading volume of 78,700 shares, compared to its average volume of 96,638. The company has a current ratio of 0.70, a quick ratio of 0.54 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $416.95, a PE ratio of 19.06, a PEG ratio of 1.24 and a beta of 0.95. Carriage Services has a twelve month low of $23.15 and a twelve month high of $29.11.

Carriage Services (NYSE:CSV) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.12). The business had revenue of $61.10 million for the quarter, compared to the consensus estimate of $62.86 million. Carriage Services had a net margin of 7.29% and a return on equity of 13.54%. Carriage Services’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. research analysts forecast that Carriage Services will post 1.39 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, November 13th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, November 10th. This is a boost from Carriage Services’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.15%. Carriage Services’s dividend payout ratio (DPR) is currently 29.41%.

Carriage Services announced that its board has approved a share buyback plan on Wednesday, October 25th that allows the company to buyback $15.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Carriage Services news, Director James Raymond Schenck purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were acquired at an average cost of $25.52 per share, with a total value of $25,520.00. Following the completion of the acquisition, the director now directly owns 5,061 shares in the company, valued at $129,156.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.40% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of CSV. Teachers Advisors LLC grew its position in shares of Carriage Services by 2.8% during the first quarter. Teachers Advisors LLC now owns 33,496 shares of the company’s stock valued at $908,000 after purchasing an additional 904 shares in the last quarter. Legal & General Group Plc grew its position in shares of Carriage Services by 0.8% during the first quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock valued at $110,000 after purchasing an additional 31 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Carriage Services by 6.7% during the first quarter. Vanguard Group Inc. now owns 605,013 shares of the company’s stock valued at $16,407,000 after purchasing an additional 38,056 shares in the last quarter. Geode Capital Management LLC grew its position in Carriage Services by 4.5% in the first quarter. Geode Capital Management LLC now owns 115,191 shares of the company’s stock worth $3,123,000 after acquiring an additional 4,936 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Carriage Services by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 56,994 shares of the company’s stock worth $1,546,000 after acquiring an additional 3,243 shares in the last quarter. Hedge funds and other institutional investors own 89.55% of the company’s stock.

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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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