Carriage Services (NYSE:CSV) Price Target Raised to $60.00

Key Points

• Barrington Research has raised its price target for Carriage Services from $50.00 to $60.00, reflecting a potential upside of 25.06% from the current stock price.
• Despite this upgrade, Wall Street Zen downgraded the stock from a "buy" rating to a "hold" rating, indicating mixed sentiments among analysts.
• Carriage Services reported $0.74 earnings per share for the last quarter, surpassing expectations and contributing to a revenue of $102.15 million compared to analyst estimates.

Carriage Services (NYSE:CSV - Free Report) had its price target hoisted by Barrington Research from $50.00 to $60.00 in a report issued on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on CSV. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Roth Mkm reissued a "buy" rating and set a $51.00 target price (up previously from $48.00) on shares of Carriage Services in a report on Friday, May 2nd.

Carriage Services Stock Performance

Shares of NYSE:CSV traded down $0.63 during mid-day trading on Thursday, reaching $47.54. The company had a trading volume of 164,479 shares, compared to its average volume of 84,859. The company's 50-day moving average price is $45.60 and its 200-day moving average price is $42.00. The company has a current ratio of 1.06, a quick ratio of 0.90 and a debt-to-equity ratio of 1.72. Carriage Services has a one year low of $29.56 and a one year high of $49.41. The firm has a market cap of $745.82 million, a price-to-earnings ratio of 14.27, a PEG ratio of 0.98 and a beta of 0.83.

Carriage Services (NYSE:CSV - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share (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 business had revenue of $102.15 million for the quarter, compared to analysts' expectations of $101.36 million. As a group, equities research analysts anticipate that Carriage Services will post 2.5 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 4th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.45 annualized dividend and a dividend yield of 0.9%. Carriage Services's dividend payout ratio is presently 13.51%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Carriage Services by 2.6% in the first quarter. Vanguard Group Inc. now owns 941,412 shares of the company's stock worth $36,480,000 after purchasing an additional 24,138 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Carriage Services by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 734,828 shares of the company's stock worth $29,283,000 after purchasing an additional 9,080 shares during the period. LSV Asset Management increased its holdings in shares of Carriage Services by 9.7% in the first quarter. LSV Asset Management now owns 648,417 shares of the company's stock worth $25,126,000 after purchasing an additional 57,500 shares during the period. Geode Capital Management LLC increased its holdings in shares of Carriage Services by 5.4% in the second quarter. Geode Capital Management LLC now owns 350,092 shares of the company's stock worth $16,016,000 after purchasing an additional 17,931 shares during the period. Finally, Boston Partners increased its holdings in shares of Carriage Services by 7.5% in the second quarter. Boston Partners now owns 202,581 shares of the company's stock worth $9,266,000 after purchasing an additional 14,056 shares during the period. Institutional investors own 66.46% of the company's stock.

Carriage Services Company Profile

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.