Carriage Services, Inc. (CSV) Expected to Post Quarterly Sales of $65.49 Million
Equities analysts predict that Carriage Services, Inc. (NYSE:CSV) will post sales of $65.49 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Carriage Services’ earnings. The highest sales estimate is $66 million and the lowest is $64.98 million. Carriage Services posted sales of $61.87 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The firm is scheduled to announce its next earnings results on Tuesday, July 25th.
According to Zacks, analysts expect that Carriage Services will report full year sales of $65.49 million for the current year, with estimates ranging from $265 million to $265.9 million. For the next year, analysts anticipate that the company will post sales of $279.21 million per share, with estimates ranging from $274.9 million to $283.51 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Carriage Services.
Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, April 26th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.04. Carriage Services had a return on equity of 17.25% and a net margin of 8.46%. The business had revenue of $68.20 million during the quarter, compared to analyst estimates of $67.45 million. During the same quarter last year, the firm posted $0.47 EPS. The company’s revenue was up 7.7% compared to the same quarter last year.
Separately, Zacks Investment Research raised shares of Carriage Services from a “sell” rating to a “hold” rating in a research report on Friday, April 28th.
In other Carriage Services news, insider Shawn R. Phillips sold 5,630 shares of the company’s stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $26.67, for a total transaction of $150,152.10. Following the completion of the sale, the insider now directly owns 63,975 shares in the company, valued at $1,706,213.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Carl Benjamin Brink purchased 1,000 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average price of $26.99 per share, with a total value of $26,990.00. Following the completion of the acquisition, the chief financial officer now directly owns 7,059 shares of the company’s stock, valued at $190,522.41. The disclosure for this purchase can be found here. Insiders have acquired 6,000 shares of company stock valued at $162,440 over the last 90 days. Corporate insiders own 18.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Tiverton Asset Management LLC boosted its stake in Carriage Services by 1.7% in the third quarter. Tiverton Asset Management LLC now owns 379,680 shares of the company’s stock worth $8,980,000 after buying an additional 6,249 shares during the period. State Street Corp boosted its stake in Carriage Services by 9.2% in the fourth quarter. State Street Corp now owns 281,318 shares of the company’s stock worth $8,055,000 after buying an additional 23,595 shares during the period. Russell Investments Group Ltd. purchased a new stake in Carriage Services during the fourth quarter worth about $3,116,000. Flinton Capital Management LLC purchased a new stake in Carriage Services during the fourth quarter worth about $1,159,000. Finally, Axiom International Investors LLC DE boosted its stake in Carriage Services by 107.2% in the fourth quarter. Axiom International Investors LLC DE now owns 149,223 shares of the company’s stock worth $4,274,000 after buying an additional 77,190 shares during the period. Institutional investors own 79.38% of the company’s stock.
Carriage Services (NYSE:CSV) traded down 1.15% on Wednesday, hitting $25.87. The company had a trading volume of 12,231 shares. The stock has a market cap of $432.11 million, a P/E ratio of 20.85 and a beta of 1.09. The firm’s 50 day moving average price is $27.20 and its 200 day moving average price is $26.93. Carriage Services has a 12-month low of $21.97 and a 12-month high of $29.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Thursday, May 11th. Carriage Services’s dividend payout ratio (DPR) is 16.53%.
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About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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