Carriage Services (NYSE:CSV) announced its earnings results on Wednesday. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01), Briefing.com reports. The business had revenue of $65.10 million during the quarter, compared to analyst estimates of $65.34 million. Carriage Services had a return on equity of 13.54% and a net margin of 7.29%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 earnings per share. Carriage Services updated its FY18 guidance to $2.00-$2.05 EPS.
Shares of Carriage Services (CSV) traded down $0.09 on Wednesday, hitting $25.43. The stock had a trading volume of 81,419 shares, compared to its average volume of 131,739. The firm has a market cap of $411.00, a P/E ratio of 24.93, a P/E/G ratio of 0.95 and a beta of 0.82. The company has a quick ratio of 0.54, a current ratio of 0.70 and a debt-to-equity ratio of 1.86. Carriage Services has a fifty-two week low of $23.15 and a fifty-two week high of $28.96.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Friday, February 9th. Carriage Services’s payout ratio is currently 29.41%.
In other news, COO Mark R. Bruce sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.40, for a total value of $79,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 4,241 shares of company stock worth $111,354 over the last three months. 13.40% of the stock is owned by company insiders.
Carriage Services declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that allows the company to repurchase $15.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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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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