Brokerages Expect Carriage Services, Inc. (CSV) to Announce $0.39 Earnings Per Share

Carriage Services, Inc. (NYSE:CSV) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus target price of $30.00 for the company and are forecasting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also assigned Carriage Services an industry rank of 45 out of 265 based on the ratings given to related companies.

In related news, COO Mark R. Bruce sold 3,000 shares of Carriage Services stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $26.40, for a total transaction of $79,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Raymond Schenck acquired 1,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, October 31st. The shares were purchased at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following the purchase, the director now directly owns 5,061 shares in the company, valued at $129,156.72. The disclosure for this purchase can be found here. Insiders have sold a total of 4,241 shares of company stock worth $111,354 in the last three months. 13.40% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. bought a new position in Carriage Services in the second quarter valued at approximately $229,000. The Manufacturers Life Insurance Company lifted its stake in Carriage Services by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 12,648 shares of the company’s stock valued at $340,000 after buying an additional 698 shares in the last quarter. Rhumbline Advisers lifted its stake in Carriage Services by 7.4% in the second quarter. Rhumbline Advisers now owns 18,011 shares of the company’s stock valued at $486,000 after buying an additional 1,245 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Carriage Services by 25.5% in the second quarter. New York State Common Retirement Fund now owns 18,700 shares of the company’s stock valued at $504,000 after buying an additional 3,799 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new position in Carriage Services in the second quarter valued at approximately $576,000. 89.99% of the stock is currently owned by hedge funds and other institutional investors.

Carriage Services (CSV) traded up $0.01 during trading on Friday, reaching $26.99. 73,622 shares of the company traded hands, compared to its average volume of 103,701. Carriage Services has a twelve month low of $23.15 and a twelve month high of $28.96. The company has a market cap of $434.00, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 1.00 and a beta of 0.95. The company has a quick ratio of 0.54, a current ratio of 0.70 and a debt-to-equity ratio of 1.86.

Carriage Services declared that its board has authorized a stock repurchase program on Wednesday, October 25th that permits the company to buyback $15.00 million in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 9th. Carriage Services’s payout ratio is 29.41%.

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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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