Carriage Services (NYSE:CSV) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Carriage Services, Inc. (NYSE:CSV) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $33.50 and traded as high as $39.57. Carriage Services shares last traded at $38.57, with a volume of 53,334 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Roth Mkm restated a “buy” rating and issued a $40.00 target price (up from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd. Barrington Research raised their price target on Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st.

Carriage Services Price Performance

The stock has a market cap of $587.15 million, a P/E ratio of 17.30, a P/E/G ratio of 1.05 and a beta of 0.91. The company’s 50 day moving average price is $33.50 and its 200-day moving average price is $30.31. The company has a quick ratio of 0.59, a current ratio of 0.72 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $100.69 million for the quarter, compared to the consensus estimate of $93.49 million. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, sell-side analysts expect that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is currently 20.18%.

Insiders Place Their Bets

In related news, VP Paul Donald Elliott sold 5,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total transaction of $188,900.00. Following the transaction, the vice president now owns 34,166 shares of the company’s stock, valued at approximately $1,290,791.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Large investors have recently modified their holdings of the stock. Hillsdale Investment Management Inc. purchased a new stake in shares of Carriage Services during the 1st quarter valued at about $1,517,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Carriage Services by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock worth $284,000 after acquiring an additional 746 shares during the last quarter. EMC Capital Management purchased a new stake in Carriage Services in the 1st quarter valued at about $168,000. Linden Thomas Advisory Services LLC lifted its holdings in shares of Carriage Services by 10.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 18,861 shares of the company’s stock worth $506,000 after buying an additional 1,727 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Carriage Services by 201.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after purchasing an additional 153,538 shares during the period. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Company Profile

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