Brokerages Set $32.00 Target Price for Carriage Services, Inc. (CSV)

Carriage Services, Inc. (NYSE:CSV) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokerages have set a twelve-month consensus target price of $32.00 for the company and are anticipating that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given Carriage Services an industry rank of 110 out of 265 based on the ratings given to its competitors.

A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Barrington Research reissued an “outperform” rating and issued a $32.00 price objective (up from $30.00) on shares of Carriage Services in a research note on Thursday, February 15th. Finally, ValuEngine cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.

Carriage Services traded up $0.07, reaching $25.55, during trading hours on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 124,322 shares, compared to its average volume of 164,295. The stock has a market cap of $413.42 million, a price-to-earnings ratio of 18.38, a PEG ratio of 0.93 and a beta of 0.70. Carriage Services has a fifty-two week low of $23.15 and a fifty-two week high of $28.96. The company has a current ratio of 0.68, a quick ratio of 0.52 and a debt-to-equity ratio of 1.58.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, April 25th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. The firm had revenue of $73.39 million for the quarter, compared to analysts’ expectations of $76.54 million. Carriage Services had a net margin of 14.98% and a return on equity of 14.08%. research analysts expect that Carriage Services will post 1.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 11th. This represents a $0.30 dividend on an annualized basis and a yield of 1.17%. Carriage Services’s dividend payout ratio (DPR) is 21.58%.

In other news, Director Barry K. Fingerhut bought 2,500 shares of Carriage Services stock in a transaction on Friday, February 23rd. The shares were bought 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Raymond Schenck bought 1,000 shares of Carriage Services stock in a transaction on Monday, February 26th. The stock was purchased at an average price of $27.79 per share, for a total transaction of $27,790.00. Following the completion of the acquisition, the director now owns 6,061 shares in the company, valued at approximately $168,435.19. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Carriage Services by 8.4% in the 1st quarter. BlackRock Inc. now owns 1,293,398 shares of the company’s stock valued at $35,775,000 after purchasing an additional 100,187 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Carriage Services by 8.6% during the 4th quarter. Renaissance Technologies LLC now owns 979,500 shares of the company’s stock worth $25,183,000 after acquiring an additional 77,900 shares during the period. LSV Asset Management lifted its holdings in shares of Carriage Services by 8.9% during the 4th quarter. LSV Asset Management now owns 785,576 shares of the company’s stock worth $20,197,000 after acquiring an additional 64,300 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Carriage Services by 7.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 545,993 shares of the company’s stock worth $14,037,000 after acquiring an additional 38,450 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Carriage Services by 16.6% during the 4th quarter. Bank of Montreal Can now owns 456,961 shares of the company’s stock worth $11,748,000 after acquiring an additional 65,200 shares during the period. Institutional investors own 86.38% of the company’s stock.

About Carriage Services

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.

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