Carriage Services (CSV) Downgraded to “Strong Sell” at ValuEngine

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ValuEngine downgraded shares of Carriage Services (NYSE:CSV) from a sell rating to a strong sell rating in a report published on Thursday.

CSV has been the topic of several other reports. Barrington Research restated an outperform rating and issued a $24.00 price target (down from $32.00) on shares of Carriage Services in a research note on Thursday. TheStreet downgraded shares of Carriage Services from a b- rating to a c+ rating in a research note on Thursday, August 30th.

Shares of CSV stock traded up $1.21 on Thursday, hitting $16.55. The company’s stock had a trading volume of 4,359 shares, compared to its average volume of 145,390. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.01 and a current ratio of 1.24. Carriage Services has a fifty-two week low of $14.57 and a fifty-two week high of $28.96. The company has a market capitalization of $293.81 million, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.87 and a beta of 0.55.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.08). Carriage Services had a net margin of 13.91% and a return on equity of 10.80%. The business had revenue of $64.24 million during the quarter, compared to analyst estimates of $64.79 million. On average, analysts forecast that Carriage Services will post 1.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Tuesday, November 13th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 9th. This represents a $0.30 annualized dividend and a yield of 1.81%. Carriage Services’s dividend payout ratio is 21.58%.

In related news, insider Shawn R. Phillips sold 6,500 shares of the company’s stock in a transaction dated Thursday, September 27th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald Douglas Patteson, Jr. acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were purchased at an average cost of $23.25 per share, with a total value of $93,000.00. Following the transaction, the director now directly owns 51,431 shares of the company’s stock, valued at $1,195,770.75. The disclosure for this purchase can be found here. Corporate insiders own 13.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Carriage Services by 1.3% during the second quarter. Russell Investments Group Ltd. now owns 194,711 shares of the company’s stock worth $4,780,000 after purchasing an additional 2,487 shares during the period. First Trust Advisors LP lifted its position in Carriage Services by 18.8% during the second quarter. First Trust Advisors LP now owns 16,802 shares of the company’s stock worth $412,000 after purchasing an additional 2,658 shares during the period. Bank of New York Mellon Corp lifted its position in Carriage Services by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 115,076 shares of the company’s stock worth $2,825,000 after purchasing an additional 3,312 shares during the period. Engineers Gate Manager LP lifted its position in Carriage Services by 37.0% during the third quarter. Engineers Gate Manager LP now owns 13,458 shares of the company’s stock worth $290,000 after purchasing an additional 3,636 shares during the period. Finally, Cadence Capital Management LLC lifted its position in Carriage Services by 12.1% during the second quarter. Cadence Capital Management LLC now owns 55,998 shares of the company’s stock worth $1,375,000 after purchasing an additional 6,051 shares during the period. 79.19% of the stock is owned by institutional investors and hedge funds.

About Carriage Services

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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