Carriage Services, Inc. (NYSE:CSV) Rating Lowered to Sell at BidaskClub
BidaskClub downgraded shares of Carriage Services, Inc. (NYSE:CSV) from a hold rating to a sell rating in a research note issued to investors on Friday.
CSV has been the subject of several other research reports. Zacks Investment Research raised Carriage Services from a sell rating to a hold rating in a report on Friday, April 28th. Jefferies Group LLC reissued a hold rating and issued a $82.00 price target on shares of Carriage Services in a report on Monday, June 12th.
Carriage Services (NYSE CSV) opened at 24.39 on Friday. The stock has a market cap of $407.80 million, a price-to-earnings ratio of 20.65 and a beta of 0.94. Carriage Services has a 12 month low of $22.53 and a 12 month high of $29.11. The firm has a 50-day moving average price of $26.52 and a 200-day moving average price of $26.69.
Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.10. Carriage Services had a net margin of 8.35% and a return on equity of 15.44%. The company had revenue of $63.87 million for the quarter, compared to the consensus estimate of $64.35 million. During the same period in the previous year, the business earned $0.37 EPS. Carriage Services’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts expect that Carriage Services will post $1.67 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, August 10th. Carriage Services’s dividend payout ratio is presently 16.95%.
In other Carriage Services news, CFO Carl Benjamin Brink purchased 1,000 shares of the stock in a transaction on Thursday, May 4th. The stock was acquired at an average price of $26.99 per share, with a total value of $26,990.00. Following the completion of the acquisition, the chief financial officer now owns 7,059 shares in the company, valued at $190,522.41. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.20% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC increased its stake in Carriage Services by 2.5% in the second quarter. Baker Ellis Asset Management LLC now owns 6,150 shares of the company’s stock worth $166,000 after buying an additional 150 shares during the period. Stratos Wealth Partners LTD. increased its stake in Carriage Services by 0.3% in the second quarter. Stratos Wealth Partners LTD. now owns 155,143 shares of the company’s stock worth $4,183,000 after buying an additional 388 shares during the period. Russell Investments Group Ltd. increased its stake in Carriage Services by 94.1% in the second quarter. Russell Investments Group Ltd. now owns 160,253 shares of the company’s stock worth $4,320,000 after buying an additional 77,689 shares during the period. Aperio Group LLC increased its stake in Carriage Services by 7.6% in the second quarter. Aperio Group LLC now owns 9,702 shares of the company’s stock worth $262,000 after buying an additional 686 shares during the period. Finally, Fenimore Asset Management Inc. purchased a new stake in Carriage Services during the second quarter worth approximately $6,856,000. 86.73% of the stock is owned by hedge funds and other institutional investors.
Carriage Services Company Profile
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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