Equities Analysts Offer Predictions for Carriage Services, Inc.’s Q2 2024 Earnings (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Research analysts at Barrington Research reduced their Q2 2024 earnings per share estimates for Carriage Services in a report released on Thursday, May 2nd. Barrington Research analyst A. Paris now anticipates that the company will earn $0.48 per share for the quarter, down from their previous forecast of $0.52. Barrington Research has a “Outperform” rating and a $38.00 price objective on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 per share. Barrington Research also issued estimates for Carriage Services’ Q3 2024 earnings at $0.34 EPS and Q4 2024 earnings at $0.69 EPS.

Several other equities research analysts have also weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Carriage Services in a research note on Friday, May 3rd. StockNews.com lowered Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

Carriage Services Stock Down 0.6 %

Shares of NYSE:CSV opened at $25.58 on Monday. The company’s fifty day moving average is $25.42 and its two-hundred day moving average is $24.40. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.65 and a current ratio of 0.82. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.59. The stock has a market capitalization of $387.21 million, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.16. The firm had revenue of $103.49 million for the quarter, compared to analysts’ expectations 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 last year, the business posted $0.56 earnings per share.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.1125 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.45 annualized dividend and a dividend yield of 1.76%. Carriage Services’s dividend payout ratio is currently 22.17%.

Insider Transactions at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 $987,664.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 transaction of $168,155.00. Following the completion of the transaction, the vice president now directly owns 38,178 shares in the company, valued at $987,664.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Carlos R. Quezada sold 1,666 shares of the firm’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 $42,616.28. Following the completion of the sale, the chief operating officer now owns 57,062 shares in the company, valued at $1,459,645.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,372 shares of company stock worth $369,521. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Carriage Services

A number of hedge funds and other institutional investors have recently modified their holdings of CSV. Tower Research Capital LLC TRC boosted its holdings in shares of Carriage Services by 32.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock valued at $92,000 after acquiring an additional 897 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of Carriage Services during the 1st quarter valued at $27,000. Mendel Money Management raised its stake in shares of Carriage Services by 1.6% in the 3rd quarter. Mendel Money Management now owns 70,622 shares of the company’s stock worth $1,995,000 after buying an additional 1,140 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Carriage Services by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 149,859 shares of the company’s stock valued at $4,234,000 after buying an additional 1,151 shares during the period. Finally, Values First Advisors Inc. boosted its stake in Carriage Services by 7.4% during the fourth quarter. Values First Advisors Inc. now owns 17,096 shares of the company’s stock valued at $428,000 after buying an additional 1,185 shares in the last quarter. 66.46% of the stock is currently owned by institutional investors.

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.