Carriage Services, Inc. (NYSE:CSV) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Carriage Services, Inc. (NYSE:CSV) has received an average consensus rating of "Buy" from five brokerages, with a price target of $59.00.
• The company reported an earnings per share (EPS) of $0.74, surpassing analysts' expectations, alongside a revenue of $102.15 million for the last quarter.
• Carriage Services recently declared a $0.1125 quarterly dividend, offering a yield of approximately 1.0%, with a payout ratio of 13.51%.

Shares of Carriage Services, Inc. (NYSE:CSV - Get Free Report) have been assigned an average recommendation of "Buy" from the five brokerages that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $59.00.

A number of research analysts have recently commented on CSV shares. B. Riley restated a "buy" rating and set a $65.00 price objective (up previously from $52.00) on shares of Carriage Services in a report on Friday, August 8th. Raymond James Financial assumed coverage on Carriage Services in a research report on Wednesday. They issued an "outperform" rating and a $60.00 price objective for the company. Wall Street Zen cut Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Carriage Services in a research report on Wednesday, September 10th. Finally, Zacks Research raised shares of Carriage Services to a "strong-buy" rating in a report on Monday, August 11th.

Carriage Services Stock Performance

Shares of CSV stock traded up $2.54 during trading on Thursday, reaching $46.91. The company had a trading volume of 72,887 shares, compared to its average volume of 113,591. The company has a market capitalization of $736.41 million, a PE ratio of 14.07, a PEG ratio of 0.91 and a beta of 0.87. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90. The firm's 50 day simple moving average is $44.75 and its two-hundred day simple moving average is $43.03. Carriage Services has a one year low of $30.15 and a one year high of $49.41.

Carriage Services (NYSE:CSV - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. The company had revenue of $102.15 million for the quarter, compared to analyst estimates of $101.36 million. Sell-side analysts forecast that Carriage Services will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 4th were paid a $0.1125 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.45 annualized dividend and a yield of 1.0%. Carriage Services's payout ratio is currently 13.51%.

Insider Buying and Selling

In other news, VP Shane Pudenz sold 13,027 shares of Carriage Services stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the transaction, the vice president owned 14,930 shares in the company, valued at approximately $662,294.80. The trade was a 46.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carriage Services

A number of hedge funds have recently added to or reduced their stakes in CSV. Hohimer Wealth Management LLC boosted its stake in shares of Carriage Services by 4.1% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,456 shares of the company's stock worth $250,000 after buying an additional 255 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Carriage Services by 3.0% during the second quarter. Russell Investments Group Ltd. now owns 8,833 shares of the company's stock valued at $404,000 after purchasing an additional 258 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in Carriage Services by 22.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,450 shares of the company's stock valued at $66,000 after purchasing an additional 262 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Carriage Services by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,090 shares of the company's stock worth $313,000 after purchasing an additional 312 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Carriage Services by 3.0% during the 2nd quarter. Prudential Financial Inc. now owns 11,245 shares of the company's stock worth $514,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 66.46% of the company's stock.

About Carriage Services

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.

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