Carriage Services, Inc. to Post Q2 2024 Earnings of $0.48 Per Share, Barrington Research Forecasts (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Research analysts at Barrington Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of Carriage Services in a report released on Thursday, May 2nd. Barrington Research analyst A. Paris now expects that the company will post earnings of $0.48 per share for the quarter, down from their previous estimate 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.

A number of other equities research analysts have also recently commented on CSV. StockNews.com cut Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. 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 report on Friday.

Carriage Services Stock Performance

NYSE:CSV opened at $26.00 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $393.64 million, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.77 and a beta of 0.87. The firm has a 50-day moving average price of $25.40 and a two-hundred day moving average price of $24.36. Carriage Services has a twelve month low of $18.06 and a twelve month high of $35.59.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.59 by $0.16. The company had revenue of $103.49 million for the quarter, compared to analyst estimates of $98.17 million. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. During the same period in the previous year, the firm earned $0.56 EPS.

Carriage Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.45 annualized dividend and a yield of 1.73%. Carriage Services’s dividend payout ratio (DPR) is presently 22.17%.

Insiders Place Their Bets

In other Carriage Services news, Director Melvin C. Payne sold 3,524 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total value of $90,143.92. Following the sale, the director now directly owns 1,129,809 shares of the company’s stock, valued at approximately $28,900,514.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Carriage Services news, Director Melvin C. Payne sold 3,524 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total transaction of $90,143.92. Following the transaction, the director now owns 1,129,809 shares of the company’s stock, valued at $28,900,514.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the sale, the vice president now directly owns 38,178 shares of the company’s stock, valued at $987,664.86. The disclosure for this sale can be found here. Insiders have sold a total of 14,372 shares of company stock valued at $369,521 in the last quarter. 12.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carriage Services

Large investors have recently modified their holdings of the company. FinTrust Capital Advisors LLC purchased a new stake in shares of Carriage Services during the 1st quarter worth about $27,000. Parallel Advisors LLC acquired a new position in Carriage Services during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its stake in Carriage Services by 32.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock worth $92,000 after buying an additional 897 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Carriage Services by 89.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,907 shares of the company’s stock worth $110,000 after acquiring an additional 1,848 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in shares of Carriage Services during the 4th quarter valued at $154,000. 66.46% of the stock is currently owned by hedge funds and other 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.