Carriage Services (CSV) Updates FY18 Earnings Guidance

Carriage Services (NYSE:CSV) issued an update on its FY18 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.00-$2.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.07. The company issued revenue guidance of $280-$285 million, compared to the consensus revenue estimate of $276.30 million.

Shares of Carriage Services (NYSE CSV) traded down $0.09 during mid-day trading on Wednesday, reaching $25.43. The company had a trading volume of 81,419 shares, compared to its average volume of 131,739. Carriage Services has a 1-year low of $23.15 and a 1-year high of $28.96. The company has a market capitalization of $411.00, a PE ratio of 25.08, a PEG ratio of 0.95 and a beta of 0.82. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.70 and a quick ratio of 0.54.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 9th. Carriage Services’s dividend payout ratio (DPR) is presently 29.41%.

Carriage Services declared that its Board of Directors has initiated a stock buyback plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

Separately, Zacks Investment Research lowered Carriage Services from a hold rating to a sell rating in a research note on Thursday, February 8th.

In other news, COO Mark R. Bruce sold 3,000 shares of the company’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 transaction of $79,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 4,241 shares of company stock worth $111,354 over the last ninety days. 13.40% of the stock is owned by insiders.

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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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