Barrington Research reaffirmed their buy rating on shares of Carriage Services (NYSE:CSV) in a research note released on Wednesday, TipRanks reports. Barrington Research currently has a $30.00 price objective on the stock.
A number of other analysts have also weighed in on CSV. ValuEngine lowered shares of Carriage Services from a hold rating to a sell rating in a research report on Thursday, June 4th. Zacks Investment Research lowered shares of Carriage Services from a buy rating to a hold rating in a research report on Tuesday, July 21st. Finally, Sidoti raised their price target on shares of Carriage Services from $28.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, May 20th.
Shares of Carriage Services stock opened at $22.11 on Wednesday. Carriage Services has a fifty-two week low of $13.54 and a fifty-two week high of $28.50. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.38 and a quick ratio of 1.20. The firm has a market capitalization of $395.99 million, a P/E ratio of 73.70, a P/E/G ratio of 0.99 and a beta of 0.83. The company’s 50 day moving average price is $18.62 and its two-hundred day moving average price is $18.95.
Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, July 29th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.12. Carriage Services had a net margin of 1.83% and a return on equity of 10.74%. The firm had revenue of $77.48 million for the quarter, compared to analyst estimates of $72.00 million. On average, analysts expect that Carriage Services will post 1.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 10th will be paid a dividend of $0.087 per share. The ex-dividend date is Friday, August 7th. This represents a $0.35 annualized dividend and a dividend yield of 1.57%. This is an increase from Carriage Services’s previous quarterly dividend of $0.08. Carriage Services’s dividend payout ratio (DPR) is presently 25.00%.
In other news, VP Michael Loeffel bought 1,355 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $18.57 per share, with a total value of $25,162.35. Following the completion of the purchase, the vice president now directly owns 18,957 shares of the company’s stock, valued at $352,031.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carl Benjamin Brink bought 1,850 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $18.33 per share, with a total value of $33,910.50. Following the purchase, the chief financial officer now directly owns 17,700 shares of the company’s stock, valued at $324,441. The disclosure for this purchase can be found here. Insiders have bought 5,575 shares of company stock valued at $104,315 in the last ninety days. Insiders own 11.80% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new position in Carriage Services during the fourth quarter worth $31,000. Advisor Group Holdings Inc. bought a new position in Carriage Services during the first quarter worth $25,000. BNP Paribas Arbitrage SA raised its stake in Carriage Services by 26.0% during the first quarter. BNP Paribas Arbitrage SA now owns 5,090 shares of the company’s stock worth $82,000 after buying an additional 1,051 shares during the last quarter. SG Americas Securities LLC raised its stake in Carriage Services by 57.4% during the first quarter. SG Americas Securities LLC now owns 6,211 shares of the company’s stock worth $100,000 after buying an additional 2,266 shares during the last quarter. Finally, AXA bought a new position in Carriage Services during the fourth quarter worth $218,000. 75.11% of the stock is owned by institutional investors and hedge funds.
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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