Carriage Services (NYSE:CSV) posted its quarterly earnings data on Wednesday. The company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.08), Zacks reports. Carriage Services had a return on equity of 12.49% and a net margin of 14.40%. The firm had revenue of $64.24 million for the quarter, compared to analyst estimates of $64.79 million.
NYSE:CSV traded down $4.09 during trading hours on Thursday, reaching $14.97. The company had a trading volume of 822,470 shares, compared to its average volume of 110,259. The company has a current ratio of 2.62, a quick ratio of 2.36 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $361.42 million, a price-to-earnings ratio of 10.77, a PEG ratio of 0.94 and a beta of 0.43. Carriage Services has a twelve month low of $14.57 and a twelve month high of $28.96.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 13th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, November 9th. Carriage Services’s payout ratio is 21.58%.
In related news, Director Donald Douglas Patteson, Jr. purchased 4,000 shares of Carriage Services stock in a transaction on Monday, August 20th. The stock was acquired at an average cost of $23.25 per share, for a total transaction of $93,000.00. Following the completion of the acquisition, the director now owns 51,431 shares of the company’s stock, valued at approximately $1,195,770.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shawn R. Phillips sold 6,500 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $21.65, for a total transaction of $140,725.00. Following the completion of the sale, the insider now owns 106,946 shares of the company’s stock, valued at $2,315,380.90. The disclosure for this sale can be found here. Company insiders own 13.60% of the company’s stock.
An institutional investor recently raised its position in Carriage Services stock. Bank of New York Mellon Corp boosted its stake in Carriage Services, Inc. (NYSE:CSV) by 3.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 115,076 shares of the company’s stock after purchasing an additional 3,312 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Carriage Services worth $2,825,000 as of its most recent SEC filing. 78.58% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Carriage Services from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Barrington Research reiterated a “buy” rating and set a $32.00 price objective on shares of Carriage Services in a research report on Thursday, August 2nd. Finally, TheStreet cut shares of Carriage Services from a “b-” rating to a “c+” rating in a research report on Thursday, August 30th.
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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