Carriage Services (NYSE:CSV) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Carriage Services (NYSE:CSV) posted its earnings results on Wednesday. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.16, Zacks reports. The company had revenue of $103.49 million during the quarter, compared to analyst estimates of $98.17 million. Carriage Services had a return on equity of 22.58% and a net margin of 8.08%. During the same period in the previous year, the company earned $0.56 EPS. Carriage Services updated its FY 2024 guidance to 2.200-2.300 EPS.

Carriage Services Stock Up 1.8 %

Shares of NYSE:CSV traded up $0.46 during trading on Friday, hitting $26.00. 127,944 shares of the company’s stock traded hands, compared to its average volume of 94,296. Carriage Services has a 52 week low of $18.06 and a 52 week high of $35.59. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.32. The company has a market cap of $393.64 million, a price-to-earnings ratio of 12.63, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The company has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.34.

Carriage Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be issued a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, May 3rd. Carriage Services’s dividend payout ratio (DPR) is presently 22.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com lowered Carriage Services from a “buy” rating to a “hold” rating in a research report on Wednesday. Roth Mkm restated a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Carriage Services in a research report on Friday. Finally, Barrington Research reiterated an “outperform” rating and set a $38.00 price objective on shares of Carriage Services in a report on Thursday.

Insider Activity

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $25.87, for a total value of $168,155.00. Following the sale, the vice president now owns 38,178 shares in the company, valued at approximately $987,664.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $25.87, for a total value of $168,155.00. Following the sale, the vice president now owns 38,178 shares in the company, valued at approximately $987,664.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven D. Metzger sold 1,388 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $35,505.04. Following the completion of the sale, the executive vice president now owns 42,975 shares in the company, valued at approximately $1,099,300.50. The disclosure for this sale can be found here. Insiders have sold 14,372 shares of company stock worth $369,521 in the last 90 days. Corporate insiders own 12.10% of the company’s stock.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.