Carriage Services (CSV) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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), 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%.

Separately, Zacks Investment Research downgraded Carriage Services from a “hold” rating to a “sell” rating in a report on Thursday, February 8th.

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.

Earnings History for Carriage Services (NYSE:CSV)

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