StockNews.com Downgrades Carriage Services (NYSE:CSV) to Hold

StockNews.com lowered shares of Carriage Services (NYSE:CSV) from a buy rating to a hold rating in a report released on Saturday.

Other analysts have also issued research reports about the company. Roth Mkm reissued a “buy” rating and set a $51.00 price objective (up previously from $48.00) on shares of Carriage Services in a report on Friday. Barrington Research reiterated an “outperform” rating and set a $50.00 price target on shares of Carriage Services in a research note on Thursday, May 1st.

Carriage Services Price Performance

NYSE:CSV opened at $39.87 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. Carriage Services has a one year low of $25.44 and a one year high of $42.75. The company has a fifty day moving average price of $38.63 and a 200 day moving average price of $39.08. The stock has a market cap of $623.89 million, a P/E ratio of 17.88, a PEG ratio of 0.97 and a beta of 0.93.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.16. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The business had revenue of $8.47 million during the quarter, compared to analyst estimates of $104.17 million. Analysts anticipate that Carriage Services will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 5th will be issued a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, May 5th. Carriage Services’s payout ratio is 15.05%.

Insider Activity

In other news, President Steven D. Metzger sold 3,508 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $40.09, for a total value of $140,635.72. Following the sale, the president now owns 81,389 shares of the company’s stock, valued at approximately $3,262,885.01. This represents a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Johnson Financial Group Inc. acquired a new stake in shares of Carriage Services during the fourth quarter worth approximately $45,000. New York State Teachers Retirement System acquired a new stake in Carriage Services during the 1st quarter valued at $48,000. R Squared Ltd bought a new position in Carriage Services in the 4th quarter valued at $65,000. GAMMA Investing LLC raised its position in Carriage Services by 8,246.2% in the 1st quarter. GAMMA Investing LLC now owns 3,255 shares of the company’s stock valued at $126,000 after purchasing an additional 3,216 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of Carriage Services by 217.3% during the fourth quarter. Quantbot Technologies LP now owns 4,982 shares of the company’s stock worth $199,000 after purchasing an additional 3,412 shares during the last quarter. 66.46% of the stock is currently owned by institutional investors and hedge funds.

Carriage Services Company Profile

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.