Carriage Services Inc. (CSV) Price Target Raised to $32.00 at Barrington Research
Carriage Services Inc. (NYSE:CSV) had its price target hoisted by equities researchers at Barrington Research from $30.00 to $32.00 in a research report issued on Thursday. The brokerage presently has an “outperform” rating on the stock.
Separately, Zacks Investment Research cut shares of Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday, July 29th.
Shares of Carriage Services (NYSE:CSV) traded up 1.58% during trading on Thursday, hitting $23.75. 8,558 shares of the stock traded hands. The company’s 50 day moving average is $23.48 and its 200 day moving average is $23.00. Carriage Services has a 52-week low of $19.03 and a 52-week high of $25.96. The firm has a market cap of $395.25 million, a PE ratio of 21.22 and a beta of 0.76.
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Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Carriage Services had a net margin of 8.01% and a return on equity of 16.56%. The company earned $61.87 million during the quarter, compared to analyst estimates of $61.34 million. During the same quarter last year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts predict that Carriage Services will post $1.70 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. This is a boost from Carriage Services’s previous quarterly dividend of $0.03. Carriage Services’s payout ratio is presently 17.86%.
A number of institutional investors have recently made changes to their positions in CSV. Macquarie Group Ltd. acquired a new position in shares of Carriage Services during the second quarter worth about $123,000. Royal Bank of Canada boosted its position in shares of Carriage Services by 94.3% in the second quarter. Royal Bank of Canada now owns 920,245 shares of the company’s stock worth $21,792,000 after buying an additional 446,527 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Carriage Services by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,959 shares of the company’s stock worth $1,065,000 after buying an additional 714 shares during the last quarter. Brant Point Investment Management LLC boosted its position in shares of Carriage Services by 1.0% in the second quarter. Brant Point Investment Management LLC now owns 48,500 shares of the company’s stock worth $1,148,000 after buying an additional 500 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Carriage Services by 1.0% in the second quarter. State Street Corp now owns 259,970 shares of the company’s stock worth $6,159,000 after buying an additional 2,536 shares during the last quarter. Institutional investors own 77.51% of the company’s stock.
Carriage Services Company Profile
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.
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