Carriage Services Inc. (CSV) Sees Large Volume Increase
Carriage Services Inc. (NYSE:CSV) saw an uptick in trading volume on Friday . 190,447 shares traded hands during mid-day trading, an increase of 138% from the previous session’s volume of 79,878 shares.The stock last traded at $23.75 and had previously closed at $23.74.
Several research firms have recently weighed in on CSV. Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, April 27th. Barrington Research raised their target price on Carriage Services from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, April 26th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Carriage Services in a research report on Tuesday, April 26th. Finally, Sidoti began coverage on Carriage Services in a research report on Friday, April 22nd. They issued a “buy” rating and a $34.00 target price on the stock.
The company has a 50-day moving average price of $23.94 and a 200 day moving average price of $22.58. The company has a market cap of $394.75 million and a PE ratio of 21.20.
Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company earned $61.87 million during the quarter, compared to analysts’ expectations of $61.34 million. During the same quarter in the previous year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts forecast that Carriage Services Inc. will post $1.70 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Tuesday, August 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, August 12th. This is a positive change from Carriage Services’s previous quarterly dividend of $0.03.
In related news, President David J. Decarlo purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were purchased at an average price of C$22.51 per share, for a total transaction of C$225,100.00. Following the transaction, the president now directly owns 106,047 shares of the company’s stock, valued at approximately C$2,387,117.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carl Benjamin Brink purchased 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was bought at an average price of C$23.54 per share, for a total transaction of C$28,248.00. Following the transaction, the insider now directly owns 5,999 shares in the company, valued at C$141,216.46. The disclosure for this purchase can be found here.
Carriage Services, Inc (Carriage) is a provider of death care services and merchandise in the United States. The Company operates in two segments: funeral home operations and cemetery operations. Its funeral homes operations segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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