Shares of Carriage Services, Inc. (NYSE:CSV – Get Free Report) reached a new 52-week high on Thursday after Barrington Research raised their price target on the stock from $39.00 to $45.00. Barrington Research currently has an outperform rating on the stock. Carriage Services traded as high as $36.99 and last traded at $36.49, with a volume of 9060 shares. The stock had previously closed at $32.66.
Separately, Roth Mkm restated a “buy” rating and set a $40.00 price target (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.
Read Our Latest Stock Report on Carriage Services
Insider Buying and Selling
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of CSV. Principal Financial Group Inc. bought a new stake in Carriage Services during the third quarter valued at approximately $232,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Carriage Services during the 3rd quarter worth $4,310,000. SG Americas Securities LLC purchased a new position in Carriage Services in the third quarter worth $207,000. Point72 DIFC Ltd increased its stake in Carriage Services by 613.0% in the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Maven Securities LTD purchased a new stake in Carriage Services during the second quarter valued at about $398,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.
Carriage Services Stock Performance
The company has a 50 day simple moving average of $32.53 and a 200-day simple moving average of $29.46. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.85 and a quick ratio of 0.69. The stock has a market cap of $561.67 million, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.93 and a beta of 0.94.
Carriage Services (NYSE:CSV – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. The company had revenue of $102.32 million during the quarter, compared to the consensus estimate of $94.40 million. On average, equities analysts expect that Carriage Services, Inc. will post 2.34 earnings per share for the current fiscal year.
Carriage Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.1125 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.22%. Carriage Services’s dividend payout ratio (DPR) is 20.18%.
About Carriage Services
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.
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