Brokerages Expect Carriage Services, Inc. (NYSE:CSV) Will Announce Quarterly Sales of $93.43 Million

Equities research analysts predict that Carriage Services, Inc. (NYSE:CSVGet Rating) will announce $93.43 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Carriage Services’ earnings, with the highest sales estimate coming in at $96.68 million and the lowest estimate coming in at $91.60 million. Carriage Services posted sales of $88.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Carriage Services will report full-year sales of $386.92 million for the current financial year, with estimates ranging from $385.16 million to $389.61 million. For the next year, analysts forecast that the business will post sales of $412.94 million, with estimates ranging from $410.82 million to $415.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Carriage Services.

Carriage Services (NYSE:CSVGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.01. Carriage Services had a return on equity of 33.07% and a net margin of 9.71%. During the same quarter in the prior year, the company earned $0.81 earnings per share.

CSV has been the topic of a number of analyst reports. Barrington Research upped their target price on Carriage Services from $60.00 to $65.00 in a research note on Thursday, February 24th. Zacks Investment Research raised shares of Carriage Services from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, April 29th. Finally, StockNews.com started coverage on shares of Carriage Services in a research report on Thursday, March 31st. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $66.40.

CSV stock opened at $40.92 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.80 and a debt-to-equity ratio of 3.33. Carriage Services has a twelve month low of $34.10 and a twelve month high of $66.33. The firm has a market cap of $609.26 million, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.78 and a beta of 1.13. The business has a 50 day moving average of $44.68 and a 200 day moving average of $51.00.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Monday, May 9th were issued a dividend of $0.112 per share. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.45 dividend on an annualized basis and a yield of 1.09%. Carriage Services’s dividend payout ratio (DPR) is 20.93%.

In other news, insider Adeola Olaniyan sold 595 shares of the company’s stock in a transaction that occurred on Friday, March 25th. The stock was sold at an average price of $54.66, for a total transaction of $32,522.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Carlos R. Quezada acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was purchased at an average cost of $37.93 per share, for a total transaction of $56,895.00. Following the purchase, the chief operating officer now owns 6,967 shares of the company’s stock, valued at $264,258.31. The disclosure for this purchase can be found here. 11.30% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CSV. First Trust Advisors LP grew its stake in shares of Carriage Services by 13.3% in the first quarter. First Trust Advisors LP now owns 30,163 shares of the company’s stock worth $581,000 after acquiring an additional 3,548 shares in the last quarter. Morgan Stanley increased its stake in shares of Carriage Services by 21.9% during the second quarter. Morgan Stanley now owns 118,413 shares of the company’s stock worth $4,378,000 after acquiring an additional 21,260 shares during the period. Advisor Group Holdings Inc. grew its position in shares of Carriage Services by 226.4% in the third quarter. Advisor Group Holdings Inc. now owns 767 shares of the company’s stock valued at $34,000 after purchasing an additional 532 shares during the last quarter. Barclays PLC lifted its stake in shares of Carriage Services by 224.7% during the third quarter. Barclays PLC now owns 7,992 shares of the company’s stock valued at $357,000 after buying an additional 5,531 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of Carriage Services by 136.0% in the third quarter. Goldman Sachs Group Inc. now owns 49,845 shares of the company’s stock worth $2,223,000 after acquiring an additional 28,721 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Carriage Services Company Profile (Get Rating)

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns.

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