Carriage Services (NYSE:CSV) Issues Quarterly Earnings Results

Carriage Services (NYSE:CSV) announced its quarterly earnings data 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. Carriage Services had a return on equity of 22.58% and a net margin of 8.08%. The firm had revenue of $103.49 million during the quarter, compared to analysts’ expectations of $98.17 million. During the same period last year, the business posted $0.56 earnings per share. Carriage Services updated its FY 2024 guidance to 2.200-2.300 EPS.

Carriage Services Price Performance

CSV stock traded up $0.46 during midday trading on Friday, reaching $26.00. The stock had a trading volume of 127,945 shares, compared to its average volume of 93,179. 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’s fifty day simple moving average is $25.40 and its 200 day simple moving average is $24.35. The company has a market cap of $393.64 million, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87.

Carriage Services Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Carriage Services

In related news, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the transaction, the vice president now directly owns 38,178 shares in the company, valued at $987,664.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Steven D. Metzger sold 1,388 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total transaction of $35,505.04. Following the sale, the executive vice president now owns 42,975 shares of the company’s stock, valued at $1,099,300.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Paul Donald Elliott sold 6,500 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the completion of the transaction, the vice president now directly owns 38,178 shares of the company’s stock, valued at $987,664.86. The disclosure for this sale can be found here. Insiders sold 14,372 shares of company stock valued at $369,521 over the last 90 days. 12.10% of the stock is currently owned by corporate insiders.

About Carriage Services

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.