RSS Updates
Email UpdatesIf you follow the death care industry, the one name you probably know is Service Corp. International (NYSE: SCI). There is a second tier small player that many haven’t heard of named Carriage Services Inc. (NYSE: CSV). We noticed this one today in our screening of 52-week lows, although it barely went under that prior $6.10 52-week level and has since come back up to $6.25.
As of December 31, 2007, Carriage Services operated 139 funeral homes in 25 states and 32 cemeteries in 11 states; and the company is based in Houston, Texas (that’s important, read on). As of a week ago it is operating under a new CFO. A month before that the company instituted a $5 million share buyback. But if you look at the chart and action you might think that suddenly people are too financially strapped to die or are at least too strapped to pay for a decent funeral when they do die. This has fallen from late-2007 highs of over $11.00 and shares are now challenging 52-week lows and with one more day like today would be back under $6.00.
