Carriage Services, Inc. (NYSE:CSV) – Equities researchers at Barrington Research reduced their FY2017 earnings per share estimates for Carriage Services in a research note issued on Thursday. Barrington Research analyst A. Paris. Jr now forecasts that the company will post earnings of $1.39 per share for the year, down from their prior forecast of $1.59. Barrington Research also issued estimates for Carriage Services’ Q4 2017 earnings at $0.39 EPS and FY2018 earnings at $1.80 EPS.

Several other equities research analysts also recently issued reports on CSV. BidaskClub downgraded Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Carriage Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 26th.

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Carriage Services (CSV) opened at 25.90 on Monday. The stock’s 50 day moving average price is $25.10 and its 200-day moving average price is $25.78. Carriage Services has a 12 month low of $23.15 and a 12 month high of $29.11. The firm has a market capitalization of $433.05 million, a P/E ratio of 21.93 and a beta of 0.89.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.12). Carriage Services had a return on equity of 13.54% and a net margin of 7.29%. The company had revenue of $61.10 million for the quarter, compared to analyst estimates of $62.86 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, November 10th. This is an increase from Carriage Services’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.16%. Carriage Services’s payout ratio is currently 19.61%.

Carriage Services declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that permits the company to repurchase $15.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other Carriage Services news, CEO Melvin C. Payne sold 100,000 shares of Carriage Services stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $23.85, for a total transaction of $2,385,000.00. Following the sale, the chief executive officer now directly owns 1,131,753 shares in the company, valued at approximately $26,992,309.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Carriage Services by 0.8% in the 1st quarter. Legal & General Group Plc now owns 4,044 shares of the company’s stock worth $110,000 after acquiring an additional 31 shares in the last quarter. Baker Ellis Asset Management LLC grew its position in shares of Carriage Services by 2.5% in the 2nd quarter. Baker Ellis Asset Management LLC now owns 6,150 shares of the company’s stock worth $166,000 after acquiring an additional 150 shares in the last quarter. Falcon Point Capital LLC grew its position in shares of Carriage Services by 0.4% in the 2nd quarter. Falcon Point Capital LLC now owns 72,073 shares of the company’s stock worth $1,943,000 after acquiring an additional 304 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Carriage Services by 0.3% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 155,143 shares of the company’s stock worth $4,183,000 after acquiring an additional 388 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Carriage Services by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 57,483 shares of the company’s stock worth $1,550,000 after acquiring an additional 489 shares in the last quarter. Institutional investors own 86.78% of the company’s stock.

Carriage Services Company Profile

Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.

Earnings History and Estimates for Carriage Services (NYSE:CSV)

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