Carriage Services (NYSE:CSV) Given New $56.00 Price Target at B. Riley Financial

Carriage Services (NYSE:CSV) had its target price cut by B. Riley Financial from $65.00 to $56.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group set a $56.00 target price on shares of Carriage Services in a report on Friday. Roth Capital set a $42.00 price objective on Carriage Services in a report on Friday, October 2nd. Raymond James Financial set a $50.00 price objective on Carriage Services in a research report on Friday, August 7th. Oppenheimer assumed coverage on Carriage Services in a report on Thursday, August 13th. They issued an “outperform” rating and a $48.00 target price on the stock. Finally, Weiss Ratings cut Carriage Services from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Carriage Services presently has an average rating of “Hold” and a consensus price target of $52.57.

Carriage Services Stock Performance

Shares of Carriage Services stock traded down $1.25 during trading on Friday, hitting $26.95. 492,156 shares of the company’s stock traded hands, compared to its average volume of 262,422. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.46 and a quick ratio of 1.29. Carriage Services has a 1 year low of $26.28 and a 1 year high of $52.10. The stock has a market capitalization of $427.78 million, a P/E ratio of 9.17, a PEG ratio of 0.70 and a beta of 0.72. The business has a 50-day simple moving average of $33.34 and a 200-day simple moving average of $39.77.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, November 4th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.20). The business had revenue of $100.26 million during the quarter, compared to analysts’ expectations of $109.47 million. Carriage Services had a return on equity of 19.23% and a net margin of 10.69%. As a group, analysts forecast that Carriage Services will post 3.34 EPS for the current year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.7%. Carriage Services’s dividend payout ratio is 16.13%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Carriage Services by 50.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 784 shares of the company’s stock worth $36,000 after buying an additional 264 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Carriage Services by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,939 shares of the company’s stock valued at $454,000 after acquiring an additional 321 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Carriage Services by 0.8% in the first quarter. First Trust Advisors LP now owns 50,199 shares of the company’s stock worth $2,292,000 after acquiring an additional 422 shares during the period. Optiver Holding B.V. boosted its stake in shares of Carriage Services by 2,195.1% in the first quarter. Optiver Holding B.V. now owns 941 shares of the company’s stock worth $43,000 after acquiring an additional 900 shares during the period. Finally, North Star Investment Management Corp. boosted its stake in shares of Carriage Services by 2.5% in the third quarter. North Star Investment Management Corp. now owns 41,000 shares of the company’s stock worth $1,278,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Company Profile

Carriage Services, Inc is a provider of funeral and cemetery services in the United States. The company operates funeral homes and cemeteries that serve families through arrangements for traditional funerals, cremation services, memorial ceremonies and related merchandise.

Its cemetery operations provide interment and memorialization services, including burial plots, mausoleums, cremation niches and other cemetery products. Carriage Services also offers advance-planning and prearrangement services, allowing individuals and families to make funeral and cemetery arrangements before they are needed.

Founded in 1991 and headquartered in Houston, Texas, Carriage Services operates through a network of funeral homes and cemeteries across multiple U.S.