Carriage Services (NYSE:CSV) Shares Cross Above 50-Day Moving Average – What’s Next?

Shares of Carriage Services, Inc. (NYSE:CSV) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $33.50 and traded as high as $39.57. Carriage Services shares last traded at $38.57, with a volume of 53,334 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CSV shares. Barrington Research increased their target price on shares of Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Roth Mkm reiterated a “buy” rating and issued a $40.00 target price (up previously from $32.00) on shares of Carriage Services in a report on Friday, August 2nd.

Carriage Services Price Performance

The business’s fifty day moving average is $33.61 and its 200-day moving average is $30.37. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The firm has a market cap of $579.88 million, a PE ratio of 17.03, a P/E/G ratio of 1.03 and a beta of 0.91.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The business had revenue of $100.69 million during the quarter, compared to the consensus estimate of $93.49 million. During the same quarter last year, the company posted $0.33 earnings per share. On average, research analysts predict that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.1125 per share. The ex-dividend date is Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a yield of 1.18%. Carriage Services’s dividend payout ratio (DPR) is presently 20.18%.

Insiders Place Their Bets

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction of $188,900.00. Following the completion of the transaction, the vice president now owns 34,166 shares in the company, valued at $1,290,791.48. This trade represents a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Large investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Carriage Services by 46.6% in the third quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares during the period. nVerses Capital LLC lifted its position in Carriage Services by 550.0% during the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $35,000 after purchasing an additional 1,100 shares during the last quarter. Point72 DIFC Ltd lifted its position in Carriage Services by 613.0% during the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after purchasing an additional 1,600 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Carriage Services by 1,074.3% during the third quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Perritt Capital Management Inc lifted its position in Carriage Services by 5,001.0% during the second quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock valued at $137,000 after purchasing an additional 5,001 shares during the last quarter. 66.46% of the stock is currently owned by institutional investors.

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.