Strength Seen in Carriage Services (CSV): Can Its 20.4% Jump Turn into More Strength?
Carriage Services (CSV) shares ended the last trading session 20.4% higher at $33.76. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.2% gain over the past four weeks.
Shares of Carriage Services rallied as the company unveiled that it has started exploring potential strategic alternatives – such as a merger, divestiture or any other potential deal to boost shareholder value.
This provider of funeral and cemetary services and products is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of -10.3%. Revenues are expected to be $93.93 million, up 3.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Carriage Services, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CSV going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Carriage Services belongs to the Zacks Funeral Services industry. Another stock from the same industry, Service Corp. (SCI), closed the last trading session 1.1% higher at $64.79. Over the past month, SCI has returned 0.7%.
Service Corp.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.80. Compared to the company's year-ago EPS, this represents a change of -4.8%. Service Corp. currently boasts a Zacks Rank of #3 (Hold).
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Carriage Services, Inc. (CSV) : Free Stock Analysis Report
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