Carriage Services’ (CSV) “Outperform” Rating Reiterated at Barrington Research

Barrington Research reiterated their outperform rating on shares of Carriage Services (NYSE:CSV) in a research report released on Thursday, The Fly reports. They currently have a $32.00 price objective on the stock, up from their prior price objective of $30.00.

Separately, Zacks Investment Research downgraded Carriage Services from a hold rating to a sell rating in a research report on Thursday, February 8th.

Carriage Services (CSV) opened at $27.64 on Thursday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.70 and a quick ratio of 0.54. Carriage Services has a 12-month low of $23.15 and a 12-month high of $28.96. The stock has a market capitalization of $444.62, a P/E ratio of 13.10, a P/E/G ratio of 0.91 and a beta of 0.82.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.01). Carriage Services had a net margin of 14.41% and a return on equity of 13.53%. The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $65.34 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Carriage Services’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts anticipate that Carriage Services will post 2.03 earnings per share for the current fiscal year.

Carriage Services declared that its board has authorized a share repurchase program on Wednesday, October 25th that permits the company to buyback $15.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Friday, February 9th. Carriage Services’s dividend payout ratio (DPR) is currently 14.22%.

In other Carriage Services news, COO Mark R. Bruce sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.40, for a total transaction of $79,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 4,241 shares of company stock valued at $111,354. Insiders own 13.40% of the company’s stock.

Large 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 2nd quarter worth approximately $693,000. Arrowstreet Capital Limited Partnership acquired a new position in Carriage Services during the 2nd quarter worth approximately $1,270,000. DF Dent & Co. Inc. acquired a new position in Carriage Services during the 3rd quarter worth approximately $803,000. Teachers Advisors LLC boosted its position in Carriage Services by 15.6% during the 2nd 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 during the last quarter. Finally, Vanguard Group Inc. boosted its position in Carriage Services by 11.2% during the 2nd quarter. Vanguard Group Inc. now owns 672,941 shares of the company’s stock worth $18,142,000 after acquiring an additional 67,928 shares during the last quarter. 90.84% of the stock is owned by hedge funds and other institutional investors.

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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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