Carriage Services, Inc. (NYSE:CSV) Expected to Post Quarterly Sales of $93.43 Million

Analysts forecast that Carriage Services, Inc. (NYSE:CSVGet Rating) will report sales of $93.43 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Carriage Services’ earnings. The lowest sales estimate is $91.60 million and the highest is $96.68 million. Carriage Services reported sales of $88.28 million in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The company is scheduled to announce 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 fiscal year, analysts expect that the company will report 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 analysts that that provide coverage for Carriage Services.

Carriage Services (NYSE:CSVGet Rating) last released its earnings results on Wednesday, April 27th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the firm earned $0.81 earnings per share.

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

Shares of CSV opened at $40.92 on Friday. Carriage Services has a fifty-two week low of $34.10 and a fifty-two week high of $66.33. The company has a market capitalization 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 company has a debt-to-equity ratio of 3.33, a quick ratio of 0.64 and a current ratio of 0.80. The stock has a fifty day moving average of $44.68 and a two-hundred day moving average of $51.00.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 9th were given a $0.112 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Friday, May 6th. Carriage Services’s payout ratio is 20.93%.

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

Several large investors have recently made changes to their positions in the business. Charter Oak Capital Management LLC bought a new stake in Carriage Services in the fourth quarter worth about $32,000. Advisor Group Holdings Inc. boosted its holdings in shares of Carriage Services by 226.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 767 shares of the company’s stock valued at $34,000 after acquiring an additional 532 shares during the last quarter. Captrust Financial Advisors raised its stake 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 acquiring an additional 313 shares during the period. Huntington National Bank grew its holdings in Carriage Services by 42.9% during the 4th quarter. Huntington National Bank now owns 1,000 shares of the company’s stock valued at $64,000 after buying an additional 300 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new position in shares of Carriage Services in the fourth quarter valued at $75,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

About Carriage Services (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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