Finance

Finance

Institutional Investors Continue to Buy Carriage Services Stock

Scott Moore had a nice write-up in the Cerbat Gem Market News and Analysis on death care industry stock Carriage Service.  Among other things he pointed to their most recent 13F filing that showed Russell Investment Group bought over $3 million worth of the stock in the 4th quarter of 2016. The article points out that many other institutional investors also made purchases in that quarter and the company had $5 of inflow money for every $1 of outflow money […]

Business Finance

The Public (Market) Face of Funeral Service

Today we introduce the Funeral Director Daily “Death Care Index”  or DCI of the public equity markets.  The DCI will consist of six publicly traded companies that deal in the funeral, cremation, cemetery, and pre-need industries and are publicly traded.  The companies, which we will describe below, include Matthews International, Service Corporation International, Carriage Services, Hillenbrand Industries, Assurant, and Stonmor.  As of the close of the markets on Friday, March 3, 2017, if you owned one share of each the […]

Finance

Carriage Services Stock Upgraded

Carriage Services (NYSE:CSV) a publicly traded funeral and cemetery services provider has been rated a Strong Buy by three brokerage analysts that cover the stock. The stock closed at $26.55 on Friday, but analysts are looking for a one year price estimate of $30.50. The company also noted that a dividend of $.05 per share will be paid on March 1, 2017, to stockholders who owned the stock as of February 13. Carriage Services is headquartered in Houston, Texas, and […]

Finance

SCI to spend $255 million on capexp and acquisitions during 2017

Here’s a summary of the remarks of the Service Corporation International Executive Team during the company’s fourth quarter 2016 earnings call.  You can access the entire transcript at Seeking Alpha. CEO Thomas Ryan on the growth in the company’s preneed revenue:   “We also continue to grow our funeral preneed backlog, hosting a 4% growth in preneed funeral sales for the year as we utilize technology to remain more relevant to our employees, as well as our consumer audience.” CEO […]

Finance

Generational Equity Announces Sale of Weerts Funeral Home to SCI

DALLAS, Feb. 14, 2017 /PRNewswire/ — Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Weerts Funeral Home, Inc., headquartered in Davenport, IA, and Riverbend Cremation Service, LLC, in Bettendorf, IA, to Service Corporation International, headquartered in Houston, TX. The acquisition closed February 1, 2017. Details were not disclosed. Weerts Funeral Home was founded in 1909 and had been acquired from the Weerts family in 2005 by David Deuth. […]

Finance

SCI fourth quarter earnings beat estimates.

Service Corporation International (NYSE: SCI), the largest provider of deathcare products and services in North America, issued fourth quarter 2016 financials.  Here are the highlights. Quarterly revenue increased by 5% to $809 due primarily to an increase in cemetery preneed revenue.  SCI funeral home revenues were flat. Net income declined by 11% to $66 million in the fourth quarter of 2016 due to higher tax rates related to business divestitures, a pension termination settlement and an adjustment of deferred tax […]

Finance

Stonemor Issues Update on Sales Team Development

REVOSE, Pa., Feb. 08, 2017 (GLOBE NEWSWIRE) — StoneMor Partners L.P. (NYSE:STON) (“StoneMor” or the “Partnership”) today provided additional data on the ongoing restructuring of its sales force. Total salespeople within the salesforce at January 31, 2017 numbered 766, which was 81 more than the prior year comparable period.  The salesperson count at January 31, 2017 also reflects an increase of 14 individuals from the 752 reported at December 31, 2016. The number of salespeople who made a sale during […]

Finance

Batesville Casket 1Q 2017 financials down slightly

Hillenbrand announced earnings for the first quarter of fiscal 2017 (three months ended December 31, 2017).  The company’s Batesville casket business had a 2% decline in revenue and a 3% decline in EBIDTA (earnings before interest depreciation and amortization).  You can download the earnings slides here.   You can read the Seeking Alpha earnings call transcript here.   Batesville Casket revenue declined 2% top $135 million during the first quarter of 2017.  The decrease was due to lower burial sales.  CEO […]

Finance

Matthews Memorialization Flat in 1Q 2017

Matthews International announced revenue for the first quarter of fiscal 2017 (3 months ended  December 31, 2016).   You can read the earnings release here and the Seeking Alpha earnings call transcript here.  Funeral Director Daily will focus on the performance of the company’s memorialization segment which produces headstones, caskets and urns. Memorialization sales declined by 1.3% to $146 million during the first quarter of fiscal 2017 as a decline in casket sales offset an increase in memorial products sales […]