Carriage Services, Inc. (NYSE:CSV) Given $29.50 Consensus Target Price by Analysts

Shares of Carriage Services, Inc. (NYSE:CSV) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy recommendation.

Brokerages have set a one year consensus target price of $29.50 for the company and are predicting that the company will post $0.37 EPS for the current quarter, according to Zacks. Zacks has also given Carriage Services an industry rank of 219 out of 255 based on the ratings given to its competitors.

Several brokerages have commented on CSV. Barrington Research raised their price objective on shares of Carriage Services from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sidoti lifted their target price on shares of Carriage Services from $26.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. ValuEngine lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Zacks Investment Research lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in shares of Carriage Services by 48.0% during the second quarter. Prudential Financial Inc. now owns 127,553 shares of the company’s stock valued at $2,425,000 after purchasing an additional 41,382 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Carriage Services by 17.4% in the 2nd quarter. Acadian Asset Management LLC now owns 39,245 shares of the company’s stock worth $745,000 after acquiring an additional 5,820 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Carriage Services in the 2nd quarter worth approximately $5,624,000. LSV Asset Management raised its holdings in Carriage Services by 8.1% in the 2nd quarter. LSV Asset Management now owns 119,600 shares of the company’s stock worth $2,273,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Teton Advisors Inc. raised its holdings in Carriage Services by 23.8% in the 3rd quarter. Teton Advisors Inc. now owns 52,000 shares of the company’s stock worth $1,063,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 78.10% of the company’s stock.

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CSV traded down $0.55 on Tuesday, hitting $24.87. The company had a trading volume of 44,241 shares, compared to its average volume of 102,339. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.82 and a quick ratio of 0.65. Carriage Services has a 52-week low of $14.50 and a 52-week high of $26.84. The stock has a fifty day simple moving average of $22.31 and a 200-day simple moving average of $20.54. The firm has a market capitalization of $455.81 million, a P/E ratio of 21.26, a P/E/G ratio of 1.26 and a beta of 0.66.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.04). Carriage Services had a return on equity of 9.72% and a net margin of 3.45%. The company had revenue of $66.13 million during the quarter, compared to analysts’ expectations of $65.69 million. Equities research analysts expect that Carriage Services will post 1.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.21%. Carriage Services’s payout ratio is 25.64%.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.

See Also: Hedge Funds

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