Carriage Services, Inc. (NYSE:CSV) Receives $59.00 Average Price Target from Brokerages

Carriage Services, Inc. (NYSE:CSV) has earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $59.00.

Several research firms recently weighed in on CSV. Barrington Research reissued an “outperform” rating and set a $60.00 price objective on shares of Carriage Services in a research note on Thursday, October 23rd. B. Riley reiterated a “buy” rating and issued a $65.00 price objective (up from $52.00) on shares of Carriage Services in a report on Friday, August 8th. Zacks Research cut Carriage Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Carriage Services in a research report on Wednesday, October 8th. Finally, Raymond James Financial started coverage on shares of Carriage Services in a research report on Wednesday, October 1st. They set an “outperform” rating and a $60.00 price objective for the company.

Insiders Place Their Bets

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the business’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the transaction, the vice president owned 14,930 shares of the company’s stock, valued at approximately $662,294.80. The trade was a 46.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Carriage Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in shares of Carriage Services by 1,736.0% during the 1st quarter. Jones Financial Companies Lllp now owns 918 shares of the company’s stock worth $36,000 after buying an additional 868 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in Carriage Services in the 3rd quarter valued at $37,000. New York State Teachers Retirement System purchased a new position in shares of Carriage Services in the 1st quarter worth about $48,000. Ameritas Investment Partners Inc. increased its position in Carriage Services by 22.1% in the second quarter. Ameritas Investment Partners Inc. now owns 1,450 shares of the company’s stock worth $66,000 after buying an additional 262 shares during the last quarter. Finally, Simplex Trading LLC increased its holdings in Carriage Services by 408.7% in the 2nd quarter. Simplex Trading LLC now owns 1,526 shares of the company’s stock worth $69,000 after acquiring an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

Carriage Services Trading Down 2.1%

Shares of CSV stock opened at $44.08 on Monday. Carriage Services has a 52-week low of $32.31 and a 52-week high of $49.41. The stock has a market cap of $692.06 million, a price-to-earnings ratio of 13.24, a P/E/G ratio of 0.91 and a beta of 0.86. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.90 and a current ratio of 1.06. The firm has a fifty day moving average of $44.44 and a 200-day moving average of $44.13.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $102.15 million during the quarter, compared to analysts’ expectations of $101.36 million. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. On average, equities research analysts forecast that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.45 annualized dividend and a yield of 1.0%. Carriage Services’s dividend payout ratio is currently 13.51%.

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.