Zacks: Analysts Expect Carriage Services, Inc. (NYSE:CSV) Will Post Quarterly Sales of $92.79 Million

Brokerages expect Carriage Services, Inc. (NYSE:CSV) to report $92.79 million in sales for the current 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 company is expected to issue its next earnings results on Wednesday, February 16th.

On average, analysts expect that Carriage Services will report full year sales of $372.73 million for the current year, with estimates ranging from $372.50 million to $372.96 million. For the next fiscal year, analysts expect that the firm will post sales of $385.03 million, with estimates ranging from $382.40 million to $387.70 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover 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 the consensus estimate 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 period last year, the firm posted $0.51 EPS.

CSV has been the topic of several recent research reports. Barrington Research raised their target price on shares of Carriage Services from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. B. Riley increased their price target on shares of Carriage Services from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, October 29th. Roth Capital increased 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. TheStreet upgraded shares of Carriage Services from a “c+” rating to a “b-” rating in a research report on Friday, August 20th. Finally, Zacks Investment Research upgraded shares of Carriage Services from a “hold” rating to a “strong-buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, November 2nd. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Carriage Services presently has a consensus rating of “Buy” and a consensus price target of $60.50.

Hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its holdings in Carriage Services by 226.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 767 shares of the company’s stock worth $34,000 after buying an additional 532 shares during the period. Captrust Financial Advisors raised its holdings in Carriage Services by 67.0% during the 3rd quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock worth $35,000 after buying an additional 313 shares during the period. Point72 Hong Kong Ltd raised its holdings in Carriage Services by 8,605.6% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,567 shares of the company’s stock worth $55,000 after buying an additional 1,549 shares during the period. Legal & General Group Plc raised its holdings in shares of Carriage Services by 7.8% in the second quarter. Legal & General Group Plc now owns 4,016 shares of the company’s stock valued at $148,000 after purchasing an additional 291 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Carriage Services by 169.4% in the third quarter. BNP Paribas Arbitrage SA now owns 4,392 shares of the company’s stock valued at $196,000 after purchasing an additional 2,762 shares during the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

Shares of NYSE CSV traded down $0.26 during mid-day trading on Thursday, hitting $53.86. The company’s stock had a trading volume of 175,760 shares, compared to its average volume of 109,136. The stock has a market cap of $896.88 million, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 1.13 and a beta of 0.90. The company has a debt-to-equity ratio of 2.52, a current ratio of 0.61 and a quick ratio of 0.49. Carriage Services has a one year low of $27.15 and a one year high of $55.02. The company’s fifty day simple moving average is $47.41 and its 200-day simple moving average is $41.54.

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

About Carriage Services

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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