Carriage Services, Inc. (NYSE:CSV) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus target price of $30.00 for the company and are expecting that the company will post $0.39 EPS for the current quarter, according to Zacks. Zacks has also given Carriage Services an industry rank of 56 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd.
Large investors have recently made changes to their positions in the business. Alliancebernstein L.P. purchased a new position in shares of Carriage Services during the second quarter valued at approximately $229,000. The Manufacturers Life Insurance Company boosted its position in shares of Carriage Services by 5.8% during 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 during the period. New York State Common Retirement Fund boosted its position in shares of Carriage Services by 25.5% during 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 during the period. OxFORD Asset Management LLP purchased a new position in shares of Carriage Services during the second quarter valued at approximately $576,000. Finally, Bank of Nova Scotia purchased a new position in shares of Carriage Services during the second quarter valued at approximately $693,000. Institutional investors and hedge funds own 90.84% of the company’s stock.
Shares of Carriage Services (CSV) traded down $0.23 during mid-day trading on Monday, hitting $25.54. The stock had a trading volume of 44,990 shares, compared to its average volume of 134,348. Carriage Services has a 1 year low of $23.15 and a 1 year high of $28.96. The company has a quick ratio of 0.54, a current ratio of 0.70 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $414.54, a PE ratio of 25.09, a price-to-earnings-growth ratio of 0.95 and a beta of 0.82.
Carriage Services declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 25th that allows the company to buyback $15.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, February 9th. This represents a $0.30 annualized dividend and a yield of 1.17%. Carriage Services’s payout ratio is currently 29.41%.
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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