Shares of Carriage Services, Inc. (NYSE:CSV) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Analysts have set a 1 year consensus price objective of $24.00 for the company and are expecting that the company will post $0.22 EPS for the current quarter, according to Zacks. Zacks has also given Carriage Services an industry rank of 236 out of 257 based on the ratings given to its competitors.
A number of equities research analysts have recently weighed in on CSV shares. Barrington Research reaffirmed an “outperform” rating and issued a $24.00 price objective (down from $32.00) on shares of Carriage Services in a research note on Thursday, November 1st. TheStreet cut Carriage Services from a “b-” rating to a “c+” rating in a research note on Thursday, August 30th. ValuEngine cut Carriage Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research cut Carriage Services from a “hold” rating to a “strong sell” rating in a research note on Monday, November 5th.
Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.08). Carriage Services had a net margin of 13.91% and a return on equity of 10.80%. The firm had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.79 million. On average, equities analysts predict that Carriage Services will post 1.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.30 annualized dividend and a yield of 1.76%. Carriage Services’s payout ratio is 21.58%.
In related news, Director Bryan Leibman bought 6,000 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average cost of $15.84 per share, with a total value of $95,040.00. Following the purchase, the director now directly owns 24,837 shares of the company’s stock, valued at approximately $393,418.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn R. Phillips sold 6,500 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $21.65, for a total value of $140,725.00. Following the transaction, the insider now directly owns 106,946 shares of the company’s stock, valued at $2,315,380.90. The disclosure for this sale can be found here. Insiders have purchased a total of 145,151 shares of company stock valued at $2,363,542 over the last three months. 13.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSV. Global Alpha Capital Management Ltd. grew its stake in Carriage Services by 109.1% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 660,693 shares of the company’s stock worth $14,238,000 after purchasing an additional 344,700 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Carriage Services by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,150,700 shares of the company’s stock worth $28,250,000 after buying an additional 134,800 shares during the last quarter. Mendel Money Management purchased a new stake in Carriage Services during the 3rd quarter worth about $2,453,000. Fenimore Asset Management Inc. lifted its holdings in Carriage Services by 28.9% during the 3rd quarter. Fenimore Asset Management Inc. now owns 463,187 shares of the company’s stock worth $9,982,000 after buying an additional 103,897 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Carriage Services by 4.8% during the 2nd quarter. BlackRock Inc. now owns 1,355,497 shares of the company’s stock worth $33,278,000 after buying an additional 62,099 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
About Carriage Services
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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