Carriage Services, Inc. (NYSE:CSV) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus target price of $32.00 for the company and are expecting that the company will post $0.63 EPS for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 53 out of 265 based on the ratings given to related companies.
A number of analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and set a $32.00 price objective (up previously from $30.00) on shares of Carriage Services in a report on Thursday, February 15th. Zacks Investment Research cut Carriage Services from a “hold” rating to a “sell” rating in a report on Thursday, February 8th.
Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $65.34 million. Carriage Services had a return on equity of 13.27% and a net margin of 14.41%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. research analysts predict that Carriage Services will post 2.03 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Monday, February 12th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.30 dividend on an annualized basis and a yield of 1.06%. Carriage Services’s dividend payout ratio (DPR) is 14.22%.
In other Carriage Services news, Director James Raymond Schenck purchased 1,000 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $27.79 per share, with a total value of $27,790.00. Following the acquisition, the director now directly owns 6,061 shares in the company, valued at approximately $168,435.19. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Barry K. Fingerhut purchased 2,500 shares of the stock in a transaction on Friday, February 23rd. The stock was acquired at an average cost of $27.50 per share, for a total transaction of $68,750.00. Following the acquisition, the director now owns 2,500 shares in the company, valued at $68,750. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC bought a new position in shares of Carriage Services during the 4th quarter valued at about $193,000. Alliancebernstein L.P. bought a new position in shares of Carriage Services during the 2nd quarter valued at about $229,000. The Manufacturers Life Insurance Company increased its position in shares of Carriage Services by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,648 shares of the company’s stock valued at $340,000 after purchasing an additional 698 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Carriage Services by 25.5% during the 2nd quarter. New York State Common Retirement Fund now owns 18,700 shares of the company’s stock valued at $504,000 after purchasing an additional 3,799 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Carriage Services by 125.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 29,402 shares of the company’s stock valued at $756,000 after purchasing an additional 16,389 shares during the last quarter. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Carriage Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carriage Services and related companies with MarketBeat.com's FREE daily email newsletter.