Carriage Services, Inc. (NYSE:CSV - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.51 and last traded at $46.46, with a volume of 57726 shares traded. The stock had previously closed at $46.11.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CSV. Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Roth Mkm restated a "buy" rating and issued a $51.00 price target (up from $48.00) on shares of Carriage Services in a research report on Friday, May 2nd. Finally, Barrington Research restated an "outperform" rating and issued a $50.00 price target on shares of Carriage Services in a research report on Thursday, May 1st.
Read Our Latest Research Report on Carriage Services
Carriage Services Stock Performance
The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 2.35. The business has a 50 day simple moving average of $43.41 and a two-hundred day simple moving average of $40.83. The firm has a market cap of $736.02 million, a PE ratio of 15.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.89.
Carriage Services (NYSE:CSV - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.16. Carriage Services had a return on equity of 21.96% and a net margin of 11.50%. The business had revenue of $8.47 million for the quarter, compared to analyst estimates of $104.17 million. As a group, equities research analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.
Carriage Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 5th were paid a $0.1125 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.45 dividend on an annualized basis and a yield of 0.96%. Carriage Services's payout ratio is 15.05%.
Insider Activity at Carriage Services
In other news, President Steven D. Metzger sold 3,508 shares of the firm's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $40.09, for a total transaction of $140,635.72. Following the transaction, the president owned 81,389 shares in the company, valued at approximately $3,262,885.01. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 9,000 shares of company stock worth $362,141 in the last 90 days. Company insiders own 2.60% of the company's stock.
Hedge Funds Weigh In On Carriage Services
Several institutional investors have recently made changes to their positions in CSV. Jones Financial Companies Lllp grew its stake in Carriage Services by 1,736.0% in the first quarter. Jones Financial Companies Lllp now owns 918 shares of the company's stock valued at $36,000 after purchasing an additional 868 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Carriage Services in the fourth quarter valued at about $45,000. New York State Teachers Retirement System purchased a new position in Carriage Services in the first quarter valued at about $48,000. US Bancorp DE purchased a new position in Carriage Services in the first quarter valued at about $93,000. Finally, State of Wyoming purchased a new position in Carriage Services in the first quarter valued at about $108,000. Hedge funds and other institutional investors own 66.46% of the company's stock.
About Carriage Services
(
Get Free Report)
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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