Zacks: Carriage Services Inc. (CSV) Receives Average Rating of “Strong Buy” from Brokerages
Shares of Carriage Services Inc. (NYSE:CSV) have received an average broker rating score of 1.00 (Strong Buy) from the four analysts that cover the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target of $29.33 for the company and are forecasting that the company will post $0.38 EPS for the current quarter, according to Zacks. Zacks has also given Carriage Services an industry rank of 192 out of 265 based on the ratings given to its competitors.
CSV has been the subject of a number of recent research reports. Zacks Investment Research raised Carriage Services from a “sell” rating to a “hold” rating in a research report on Monday, October 3rd. Barrington Research raised their target price on Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, September 22nd.
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Several institutional investors have recently bought and sold shares of CSV. Macquarie Group Ltd. bought a new position in Carriage Services during the second quarter worth approximately $123,000. BlackRock Group LTD raised its position in Carriage Services by 87.5% in the second quarter. BlackRock Group LTD now owns 7,980 shares of the company’s stock worth $189,000 after buying an additional 3,723 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Carriage Services during the second quarter worth approximately $204,000. Capital Planning Advisors LLC bought a new position in Carriage Services during the second quarter worth approximately $215,000. Finally, Stevens Capital Management LP bought a new position in Carriage Services during the second quarter worth approximately $224,000. 77.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Carriage Services (NYSE:CSV) traded up 2.50% during trading on Monday, reaching $24.15. The company’s stock had a trading volume of 113,642 shares. The stock’s 50-day moving average is $23.44 and its 200-day moving average is $23.32. Carriage Services has a 12-month low of $19.03 and a 12-month high of $25.96. The stock has a market cap of $401.90 million, a P/E ratio of 21.58 and a beta of 0.85.
Carriage Services (NYSE:CSV) last released its earnings results on Tuesday, July 26th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. Carriage Services had a return on equity of 16.56% and a net margin of 8.01%. The firm earned $61.87 million during the quarter, compared to analysts’ expectations of $61.34 million. During the same period in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Carriage Services will post $1.70 earnings per share for the current fiscal year.
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.
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