2024-07-02 09:06:46 ET
Summary
- Carriage Services, Inc. has continued reporting stable earnings, showing great growth in pre-need cemetery sales.
- The company's strategy targets notable growth from continued M&A and ambitious organic growth, but the organic target should be taken with reasonable skepticism.
- Carriage Services, Inc.'s M&A has been quiet with no new acquisitions in the past year, the strategic alternative review ending with no results. A non-core divestiture is the most notable recent transaction.
- The valuation continues to undermine Carriage Services' stable cash flows and strategic growth potential.
Carriage Services, Inc. ( CSV ) has continued posting stable earnings with its nationwide funeral home and cemetery assets. M&A has been quieter with no additional notable acquisitions, with only a non-core asset divestiture showing M&A transactions during the past year. The prior strategic alternative review process has also concluded without results. Carriage Services has ambitious financial objectives ahead, but I believe that organic growth should be priced cautiously despite the solid recent performance....
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Carriage Services Targets Continued M&A And Ambitious Organic Momentum