Carriage Services (NYSE:CSV) Stock Price Crosses Below 50 Day Moving Average – Here’s What Happened

by · The Markets Daily

Carriage Services, Inc. (NYSE:CSV – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 traded.

Analyst Ratings Changes

CSV has been the topic of several recent research reports. Raymond James Financial initiated coverage on Carriage Services in a report on Wednesday, October 1st. They set an “outperform” rating and a $60.00 target price on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Carriage Services in a report on Wednesday, October 8th. Zacks Research downgraded shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. B. Riley restated a “buy” rating and issued a $65.00 price target (up previously from $52.00) on shares of Carriage Services in a research report on Friday, August 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of Carriage Services in a research note on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

View Our Latest Stock Analysis on Carriage Services

Carriage Services Stock Performance

The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90. The stock has a fifty day simple moving average of $44.30 and a two-hundred day simple moving average of $44.28. The firm has a market capitalization of $656.25 million, a P/E ratio of 12.55, a P/E/G ratio of 0.89 and a beta of 0.92.

Carriage Services (NYSE:CSV – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $102.74 million during the quarter, compared to the consensus estimate of $100.96 million. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. Carriage Services has set its FY 2025 guidance at 3.250-3.300 EPS. On average, research analysts predict that Carriage Services, Inc. will post 2.5 EPS for the current year.

Carriage Services Announces Dividend

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

Insider Activity

In other news, VP Shane Pudenz sold 13,027 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the sale, the vice president directly owned 14,930 shares in the company, valued at $662,294.80. This trade represents a 46.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carriage Services

A number of hedge funds have recently added to or reduced their stakes in CSV. State of Alaska Department of Revenue bought a new position in shares of Carriage Services in the 3rd quarter worth $37,000. Jones Financial Companies Lllp raised its holdings in Carriage Services by 1,736.0% during the first quarter. Jones Financial Companies Lllp now owns 918 shares of the company’s stock worth $36,000 after buying an additional 868 shares during the last quarter. New York State Teachers Retirement System bought a new position in shares of Carriage Services in the first quarter valued at $48,000. Ameritas Investment Partners Inc. lifted its stake in shares of Carriage Services by 22.1% in the second 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 in the last quarter. Finally, Simplex Trading LLC grew its holdings in shares of Carriage Services by 408.7% during the second quarter. Simplex Trading LLC now owns 1,526 shares of the company’s stock valued at $69,000 after buying an additional 1,226 shares during the last quarter. Institutional investors and hedge funds own 66.46% of the company’s stock.

Carriage Services Company Profile

(Get Free Report)

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.

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