Carriage Services (NYSE:CSV) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Carriage Services (NYSE:CSV) posted its earnings results on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.20), FiscalAI reports. The firm had revenue of $100.26 million during the quarter, compared to analysts’ expectations of $109.47 million. Carriage Services had a return on equity of 19.23% and a net margin of 10.69%.

Carriage Services Trading Down 16.8%

Shares of NYSE:CSV traded down $6.04 on Thursday, hitting $29.94. 489,502 shares of the company’s stock were exchanged, compared to its average volume of 142,659. The business’s 50 day simple moving average is $33.62 and its two-hundred day simple moving average is $39.93. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.46 and a quick ratio of 1.29. The stock has a market capitalization of $475.24 million, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 0.68 and a beta of 0.72. Carriage Services has a 12 month low of $27.68 and a 12 month high of $52.10.

Carriage Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 2nd will be issued a dividend of $0.1125 per share. The ex-dividend date is Monday, November 2nd. This represents a $0.45 dividend on an annualized basis and a yield of 1.5%. Carriage Services’s payout ratio is presently 16.13%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CSV shares. Raymond James Financial set a $50.00 price objective on Carriage Services in a report on Friday, August 7th. Roth Capital set a $42.00 price target on Carriage Services in a report on Friday, October 2nd. Oppenheimer assumed coverage on shares of Carriage Services in a report on Thursday, August 13th. They issued an “outperform” rating and a $48.00 target price on the stock. Weiss Ratings downgraded Carriage Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Finally, Zacks Research downgraded Carriage Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

About Carriage Services

Carriage Services, Inc is a provider of funeral and cemetery services in the United States. The company operates funeral homes and cemeteries that serve families through arrangements for traditional funerals, cremation services, memorial ceremonies and related merchandise.

Its cemetery operations provide interment and memorialization services, including burial plots, mausoleums, cremation niches and other cemetery products. Carriage Services also offers advance-planning and prearrangement services, allowing individuals and families to make funeral and cemetery arrangements before they are needed.

Founded in 1991 and headquartered in Houston, Texas, Carriage Services operates through a network of funeral homes and cemeteries across multiple U.S.