Brokerages Set Carriage Services, Inc. (NYSE:CSV) PT at $59.00

Carriage Services, Inc. (NYSE:CSV) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.00.

CSV has been the subject of several recent analyst reports. Barrington Research reiterated an “outperform” rating and issued a $60.00 price objective on shares of Carriage Services in a research note on Monday, January 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carriage Services in a research report on Monday, December 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Carriage Services during the 3rd quarter worth $3,870,000. Punch & Associates Investment Management Inc. increased its holdings in Carriage Services by 59.3% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 211,425 shares of the company’s stock valued at $9,417,000 after acquiring an additional 78,730 shares in the last quarter. Seizert Capital Partners LLC acquired a new position in Carriage Services during the second quarter worth about $2,448,000. Ameriprise Financial Inc. raised its position in Carriage Services by 12.5% during the second quarter. Ameriprise Financial Inc. now owns 477,238 shares of the company’s stock worth $21,829,000 after acquiring an additional 52,889 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Carriage Services by 64.0% in the third quarter. Qube Research & Technologies Ltd now owns 134,440 shares of the company’s stock valued at $5,988,000 after purchasing an additional 52,444 shares in the last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Trading Up 0.5%

NYSE:CSV opened at $44.33 on Wednesday. Carriage Services has a 1 year low of $35.51 and a 1 year high of $49.41. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.75 and a current ratio of 0.88. The stock has a fifty day moving average price of $43.00 and a two-hundred day moving average price of $43.79. The stock has a market capitalization of $697.75 million, a price-to-earnings ratio of 14.25, a PEG ratio of 0.85 and a beta of 0.95.

Carriage Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Monday, February 2nd. Carriage Services’s payout ratio is presently 14.47%.

Carriage Services Company Profile

Carriage Services, Inc operates as a leading provider of funeral, cemetery and cremation services in the United States. The company owns and operates a network of funeral homes, cemeteries, crematories and related service facilities, offering a comprehensive suite of end-of-life services. Its portfolio encompasses traditional funeral services, memorials, graveside burials, mausoleum entombment and direct cremation options, alongside personalized tributes and reception arrangements.

In addition to standard funeral and cemetery offerings, Carriage Services provides pre-arrangement planning and financing solutions designed to ease the administrative and financial burden on grieving families.