Zacks: Carriage Services, Inc. (CSV) Given Average Recommendation of “Strong Buy” by Brokerages

Share on StockTwits

Carriage Services, Inc. (NYSE:CSV) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokers have set a 1 year consensus target price of $24.00 for the company and are forecasting that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 235 out of 257 based on the ratings given to its competitors.

A number of research firms have recently commented on CSV. Zacks Investment Research lowered shares of Carriage Services from a “hold” rating to a “strong sell” rating in a research report on Monday, November 5th. TheStreet lowered shares of Carriage Services from a “b-” rating to a “c+” rating in a research report on Thursday, August 30th. Barrington Research restated an “outperform” rating and set a $24.00 price target (down from $32.00) on shares of Carriage Services in a research report on Thursday, November 1st. Finally, ValuEngine lowered shares of Carriage Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st.

In related news, insider Shawn R. Phillips sold 4,384 shares of the company’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $16.07, for a total value of $70,450.88. Following the completion of the transaction, the insider now directly owns 66,062 shares in the company, valued at $1,061,616.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald Douglas Patteson, Jr. bought 3,200 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The stock was bought at an average price of $16.00 per share, with a total value of $51,200.00. Following the completion of the transaction, the director now directly owns 54,631 shares of the company’s stock, valued at approximately $874,096. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 150,051 shares of company stock valued at $2,443,302 and have sold 11,788 shares valued at $231,190. 13.60% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in Carriage Services in the second quarter worth $241,000. Redmond Asset Management LLC purchased a new position in Carriage Services in the second quarter worth $634,000. Russell Investments Group Ltd. grew its position in Carriage Services by 1.3% in the second quarter. Russell Investments Group Ltd. now owns 194,711 shares of the company’s stock worth $4,780,000 after acquiring an additional 2,487 shares in the last quarter. Martingale Asset Management L P purchased a new position in Carriage Services in the second quarter worth $1,317,000. Finally, Northern Trust Corp grew its position in Carriage Services by 7.5% in the second quarter. Northern Trust Corp now owns 198,972 shares of the company’s stock worth $4,884,000 after acquiring an additional 13,927 shares in the last quarter. Institutional investors own 79.85% of the company’s stock.

Shares of CSV stock opened at $15.47 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.01 and a debt-to-equity ratio of 1.48. Carriage Services has a 1 year low of $14.57 and a 1 year high of $28.96. The firm has a market cap of $296.62 million, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). The firm had revenue of $64.24 million for the quarter, compared to analysts’ expectations of $64.79 million. Carriage Services had a net margin of 13.91% and a return on equity of 10.80%. As a group, sell-side analysts expect that Carriage Services will post 1.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Tuesday, November 13th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, November 9th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. Carriage Services’s dividend payout ratio (DPR) is currently 21.58%.

Carriage Services Company Profile

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.

Read More: Stop Order Uses For Individual Investors

Get a free copy of the Zacks research report on Carriage Services (CSV)

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.

Leave a Reply