Carriage Services Inc. (CSV) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Carriage Services, Inc. is a leading provider of death care services and products in the United States. Carriage provides a complete range of services relating to funerals, burials and cremations, including the use of funeral homes and motor vehicles, the performance of cemetery interment services and the management and maintenance of cemetery grounds. They also sell related products and merchandise including caskets, burial vaults, garments, cemetery interment rights, stone and bronze memorials, as well as other items. “
Separately, Barrington Research increased their price target on Carriage Services from $30.00 to $32.00 and gave the company an outperform rating in a report on Thursday, September 22nd.
Shares of Carriage Services (NYSE:CSV) opened at 23.62 on Monday. Carriage Services has a 1-year low of $19.03 and a 1-year high of $25.96. The company’s 50-day moving average price is $23.52 and its 200 day moving average price is $23.21. The company has a market cap of $393.08 million, a price-to-earnings ratio of 21.11 and a beta of 0.85.
Carriage Services (NYSE:CSV) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.02. The business earned $61.87 million during the quarter, compared to the consensus estimate of $61.34 million. Carriage Services had a net margin of 8.01% and a return on equity of 16.56%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.34 earnings per share. On average, analysts predict that Carriage Services will post $1.70 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of CSV. Royal Bank of Canada raised its stake in Carriage Services by 94.3% in the second quarter. Royal Bank of Canada now owns 920,245 shares of the company’s stock valued at $21,792,000 after buying an additional 446,527 shares during the period. Bank of Montreal Can bought a new stake in Carriage Services during the second quarter valued at approximately $8,829,000. Emerald Acquisition Ltd. bought a new stake in Carriage Services during the second quarter valued at approximately $2,977,000. LSV Asset Management bought a new stake in Carriage Services during the second quarter valued at approximately $2,039,000. Finally, Renaissance Technologies LLC raised its stake in Carriage Services by 9.4% in the first quarter. Renaissance Technologies LLC now owns 757,740 shares of the company’s stock valued at $16,375,000 after buying an additional 65,240 shares during the period. Hedge funds and other institutional investors own 77.51% of the company’s stock.
About Carriage Services
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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