Carriage Services (NYSE:CSV) Sets New 12-Month High – What’s Next?

Carriage Services, Inc. (NYSE:CSV) shares hit a new 52-week high on Thursday . The company traded as high as $36.99 and last traded at $36.49, with a volume of 9060 shares changing hands. The stock had previously closed at $32.66.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and set a $40.00 price target (up from $32.00) on shares of Carriage Services in a report on Friday, August 2nd.

Carriage Services Stock Performance

The stock’s 50-day moving average price is $32.31 and its 200 day moving average price is $29.32. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14. The company has a market cap of $560.65 million, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.86 and a beta of 0.94.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, July 31st. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.53 by $0.10. The firm had revenue of $102.32 million for the quarter, compared to the consensus estimate of $94.40 million. Carriage Services had a net margin of 7.47% and a return on equity of 21.99%. As a group, research analysts expect that Carriage Services, Inc. will post 2.34 EPS for the current fiscal year.

Carriage Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Monday, November 4th. Carriage Services’s dividend payout ratio is currently 22.17%.

Insider Buying and Selling

In other Carriage Services news, VP Shawn R. Phillips sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $29.73, for a total value of $148,650.00. Following the sale, the vice president now owns 97,801 shares of the company’s stock, valued at $2,907,623.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Shawn R. Phillips sold 5,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the completion of the transaction, the vice president now directly owns 97,801 shares in the company, valued at $2,907,623.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carlos R. Quezada purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the completion of the transaction, the chief executive officer now directly owns 60,061 shares in the company, valued at approximately $1,768,195.84. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Carriage Services

Several large investors have recently added to or reduced their stakes in CSV. Allspring Global Investments Holdings LLC acquired a new position in shares of Carriage Services in the 3rd quarter valued at $4,310,000. SG Americas Securities LLC bought a new stake in Carriage Services in the third quarter valued at about $207,000. Point72 DIFC Ltd raised its position in Carriage Services by 613.0% in the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after purchasing an additional 1,600 shares in the last quarter. Maven Securities LTD bought a new position in Carriage Services during the second quarter worth about $398,000. Finally, Deerfield Management Company L.P. Series C boosted its holdings in Carriage Services by 198.0% during the second quarter. Deerfield Management Company L.P. Series C now owns 53,584 shares of the company’s stock valued at $1,438,000 after purchasing an additional 35,605 shares in the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

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.