Carriage Services (NYSE:CSV) Shares Cross Below Fifty Day Moving Average – What’s Next?

Carriage Services, Inc. (NYSE:CSV)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $44.30 and traded as low as $39.88. Carriage Services shares last traded at $41.8050, with a volume of 170,110 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carriage Services in a research report on Wednesday, October 8th. Zacks Research lowered shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. B. Riley reissued a “buy” rating and issued a $65.00 price target (up previously from $52.00) on shares of Carriage Services in a report on Friday, August 8th. Barrington Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Carriage Services in a report on Friday. Finally, Raymond James Financial initiated coverage on Carriage Services in a research report on Wednesday, October 1st. They issued an “outperform” rating and a $60.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Carriage Services Trading Down 1.7%

The business has a 50 day moving average of $44.25 and a 200 day moving average of $44.33. The firm has a market capitalization of $645.25 million, a price-to-earnings ratio of 12.34, a PEG ratio of 0.89 and a beta of 0.92. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, November 5th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $102.74 million for the quarter, compared to analyst estimates of $100.96 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. Carriage Services has set its FY 2025 guidance at 3.250-3.300 EPS. As a group, research analysts predict that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 3rd will be paid a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.45 annualized dividend and a yield of 1.1%. Carriage Services’s dividend payout ratio (DPR) is presently 13.51%.

Insider Transactions at Carriage Services

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the sale, the vice president directly owned 14,930 shares in the company, valued at approximately $662,294.80. This trade represents a 46.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Carriage Services

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in Carriage Services by 1,736.0% during the 1st quarter. Jones Financial Companies Lllp now owns 918 shares of the company’s stock worth $36,000 after purchasing an additional 868 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Carriage Services during the third quarter worth about $37,000. New York State Teachers Retirement System bought a new position in shares of Carriage Services during the first quarter worth about $48,000. Ameritas Investment Partners Inc. raised its position in Carriage Services by 22.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,450 shares of the company’s stock valued at $66,000 after buying an additional 262 shares during the last quarter. Finally, Simplex Trading LLC lifted its stake in Carriage Services by 408.7% in the 2nd quarter. Simplex Trading LLC now owns 1,526 shares of the company’s stock valued at $69,000 after acquiring an additional 1,226 shares in the last quarter. 66.46% of the stock is owned by institutional investors.

About Carriage Services

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.