Carriage Services, Inc. (CSV) Forecasted to Post Q2 2019 Earnings of $0.32 Per Share

Carriage Services, Inc. (NYSE:CSV) – Stock analysts at Barrington Research lifted their Q2 2019 EPS estimates for Carriage Services in a note issued to investors on Thursday, May 2nd, according to Zacks Investment Research. Barrington Research analyst A. Paris. Jr now forecasts that the company will earn $0.32 per share for the quarter, up from their prior estimate of $0.31. Barrington Research has a “Buy” rating and a $26.00 price objective on the stock. Barrington Research also issued estimates for Carriage Services’ Q3 2019 earnings at $0.32 EPS and Q4 2019 earnings at $0.36 EPS.

Separately, Zacks Investment Research lowered shares of Carriage Services from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd.

CSV stock traded down $0.17 during mid-day trading on Monday, hitting $19.01. 7,360 shares of the company were exchanged, compared to its average volume of 114,718. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.81 and a quick ratio of 0.61. The firm has a market cap of $357.69 million, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93. Carriage Services has a 12-month low of $14.50 and a 12-month high of $25.58.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, May 1st. The company reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.02). The company had revenue of $69.08 million for the quarter, compared to analysts’ expectations of $73.19 million. Carriage Services had a return on equity of 7.69% and a net margin of 3.35%.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, May 10th. Carriage Services’s dividend payout ratio (DPR) is presently 25.64%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Carriage Services by 4.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,546,110 shares of the company’s stock worth $29,763,000 after purchasing an additional 70,557 shares in the last quarter. BlackRock Inc. lifted its position in shares of Carriage Services by 1.8% during the third quarter. BlackRock Inc. now owns 1,379,683 shares of the company’s stock worth $29,735,000 after purchasing an additional 24,186 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Carriage Services by 8.3% during the first quarter. Renaissance Technologies LLC now owns 1,230,900 shares of the company’s stock worth $23,695,000 after purchasing an additional 94,500 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in shares of Carriage Services by 14.7% during the first quarter. Global Alpha Capital Management Ltd. now owns 846,793 shares of the company’s stock worth $16,301,000 after purchasing an additional 108,800 shares in the last quarter. Finally, Vanguard Group Inc lifted its position in shares of Carriage Services by 2.9% during the third quarter. Vanguard Group Inc now owns 688,374 shares of the company’s stock worth $14,834,000 after purchasing an additional 19,521 shares in the last quarter. 78.41% 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 through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.

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