$92.79 Million in Sales Expected for Carriage Services, Inc. (NYSE:CSV) This Quarter

Equities research analysts expect Carriage Services, Inc. (NYSE:CSV) to report $92.79 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Carriage Services’ earnings. The highest sales estimate is $93.00 million and the lowest is $92.60 million. Carriage Services reported sales of $90.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is expected to report its next earnings report on Wednesday, February 16th.

According to Zacks, analysts expect that Carriage Services will report full year sales of $372.73 million for the current fiscal year, with estimates ranging from $372.50 million to $372.96 million. For the next fiscal year, analysts anticipate that the company will report sales of $385.03 million, with estimates ranging from $382.40 million to $387.70 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Carriage Services.

Carriage Services (NYSE:CSV) last issued its earnings results on Tuesday, October 26th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.22. Carriage Services had a net margin of 7.61% and a return on equity of 22.71%. During the same quarter in the previous year, the business posted $0.51 EPS.

Several research analysts recently issued reports on CSV shares. B. Riley upped their target price on shares of Carriage Services from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, October 29th. TheStreet upgraded shares of Carriage Services from a “c+” rating to a “b-” rating in a research report on Friday, August 20th. Roth Capital upped their price target on shares of Carriage Services from $52.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, October 28th. They noted that the move was a valuation call. Barrington Research increased their target price on shares of Carriage Services from $52.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, October 28th. Finally, Zacks Investment Research upgraded shares of Carriage Services from a “hold” rating to a “strong-buy” rating and set a $58.00 target price for the company in a report on Tuesday, November 2nd. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $60.50.

Several large investors have recently bought and sold shares of CSV. First Trust Advisors LP grew its holdings in shares of Carriage Services by 13.3% during the first quarter. First Trust Advisors LP now owns 30,163 shares of the company’s stock valued at $581,000 after buying an additional 3,548 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Carriage Services by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 63,879 shares of the company’s stock worth $2,248,000 after purchasing an additional 3,229 shares during the last quarter. HRT Financial LP purchased a new stake in Carriage Services in the first quarter worth approximately $392,000. Ameriprise Financial Inc. boosted its holdings in Carriage Services by 8.3% in the first quarter. Ameriprise Financial Inc. now owns 1,137,283 shares of the company’s stock worth $40,057,000 after purchasing an additional 86,750 shares during the last quarter. Finally, Point72 Hong Kong Ltd boosted its holdings in Carriage Services by 8,605.6% in the first quarter. Point72 Hong Kong Ltd now owns 1,567 shares of the company’s stock worth $55,000 after purchasing an additional 1,549 shares during the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

CSV stock traded down $0.26 during midday trading on Thursday, reaching $53.86. 175,760 shares of the company’s stock traded hands, compared to its average volume of 109,136. The firm has a market capitalization of $896.88 million, a PE ratio of 34.75, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90. Carriage Services has a 52 week low of $27.15 and a 52 week high of $55.02. The company has a 50-day moving average price of $47.41 and a two-hundred day moving average price of $41.54. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.49 and a current ratio of 0.61.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Tuesday, November 9th will be paid a dividend of $0.1125 per share. This is an increase from Carriage Services’s previous quarterly dividend of $0.10. The ex-dividend date is Monday, November 8th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.84%. Carriage Services’s dividend payout ratio (DPR) is currently 29.03%.

Carriage Services Company Profile

Carriage Services, Inc engages in the provision of funeral and cemetery services. It operates through the Funeral Home and Cemetery segments. The Funeral Home segment offers a complete suite of services to meet families’ funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral homes for visitation and remembrance services and transportation services.

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