Zacks: Carriage Services, Inc. (CSV) Given $30.00 Consensus Target Price by Brokerages

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

Brokerages have set a 12-month consensus target price of $30.00 for the company and are anticipating that the company will post $0.39 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 72 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded Carriage Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th.

In other news, Director James Raymond Schenck bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was acquired at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the purchase, the director now owns 5,061 shares of the company’s stock, valued at approximately $129,156.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mark R. Bruce sold 3,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $26.40, for a total value of $79,200.00. The disclosure for this sale can be found here. Insiders sold 4,241 shares of company stock valued at $111,354 over the last 90 days. 13.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia acquired a new position in Carriage Services during the second quarter worth $693,000. Arrowstreet Capital Limited Partnership acquired a new position in Carriage Services during the second quarter worth $1,270,000. Teachers Advisors LLC raised its stake in Carriage Services by 15.6% during the second quarter. Teachers Advisors LLC now owns 38,724 shares of the company’s stock worth $1,044,000 after acquiring an additional 5,228 shares in the last quarter. DF Dent & Co. Inc. acquired a new position in Carriage Services during the third quarter worth $803,000. Finally, Summit Global Investments acquired a new position in Carriage Services during the second quarter worth $520,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.

Shares of Carriage Services (NYSE:CSV) opened at $26.42 on Monday. Carriage Services has a 12-month low of $23.15 and a 12-month high of $28.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.70 and a quick ratio of 0.54. The firm has a market capitalization of $424.99, a P/E ratio of 25.90, a PEG ratio of 0.98 and a beta of 0.95.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, October 25th. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.12). The business had revenue of $61.10 million during the quarter, compared to the consensus estimate of $62.86 million. Carriage Services had a net margin of 7.29% and a return on equity of 13.54%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. sell-side analysts anticipate that Carriage Services will post 1.39 EPS for the current fiscal year.

Carriage Services declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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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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