Zacks: Carriage Services, Inc. (NYSE:CSV) Receives Average Recommendation of “Strong Buy” from Brokerages

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

Analysts have set a 1-year consensus price objective of $26.00 for the company and are predicting that the company will post $0.32 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 188 out of 256 based on the ratings given to its competitors.

Several brokerages have recently issued reports on CSV. Barrington Research reissued a “buy” rating and set a $26.00 price target on shares of Carriage Services in a report on Friday, February 22nd. Zacks Investment Research downgraded shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 20th.

CSV stock traded down $0.08 during trading on Monday, hitting $19.44. 618 shares of the company’s stock traded hands, compared to its average volume of 87,417. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 1.63. Carriage Services has a 52 week low of $14.50 and a 52 week high of $25.29. The firm’s fifty day moving average price is $19.11. The stock has a market cap of $355.26 million, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.94 and a beta of 0.78.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.02). Carriage Services had a net margin of 3.35% and a return on equity of 7.69%. The firm had revenue of $69.08 million for the quarter, compared to analyst estimates of $73.19 million. As a group, equities analysts forecast that Carriage Services will post 1.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, May 10th. Carriage Services’s dividend payout ratio (DPR) is 25.64%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Kennedy Capital Management Inc. grew its holdings in shares of Carriage Services by 31.9% during the first quarter. Kennedy Capital Management Inc. now owns 466,208 shares of the company’s stock worth $8,975,000 after purchasing an additional 112,640 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in Carriage Services by 14.7% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 846,793 shares of the company’s stock worth $16,301,000 after buying an additional 108,800 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Carriage Services by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,475,553 shares of the company’s stock worth $22,871,000 after buying an additional 71,959 shares during the period. Millennium Management LLC boosted its holdings in Carriage Services by 73.7% in the 4th quarter. Millennium Management LLC now owns 142,215 shares of the company’s stock worth $2,204,000 after buying an additional 60,324 shares during the period. Finally, Summit Global Investments bought a new position in Carriage Services in the 4th quarter worth $637,000. 78.41% of the stock is owned by 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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