B. Riley Weighs in on Carriage Services, Inc.’s Q3 2024 Earnings (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Stock analysts at B. Riley increased their Q3 2024 earnings per share estimates for Carriage Services in a research note issued on Thursday, May 2nd. B. Riley analyst L. Burke now expects that the company will post earnings of $0.49 per share for the quarter, up from their prior estimate of $0.44. The consensus estimate for Carriage Services’ current full-year earnings is $2.25 per share. B. Riley also issued estimates for Carriage Services’ Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.27 EPS and FY2025 earnings at $2.32 EPS.

A number of other research analysts have also weighed in on CSV. StockNews.com lowered Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $38.00 price target on shares of Carriage Services in a report on Thursday. Finally, Roth Mkm reissued a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Carriage Services in a research report on Friday.

Carriage Services Stock Performance

Shares of CSV stock opened at $26.00 on Friday. The business has a fifty day moving average of $25.40 and a 200 day moving average of $24.34. Carriage Services has a 1 year low of $18.06 and a 1 year high of $35.59. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.82 and a quick ratio of 0.65. The firm has a market capitalization of $393.64 million, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87.

Carriage Services (NYSE:CSV) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.16. The business had revenue of $103.49 million during the quarter, compared to analysts’ expectations of $98.17 million. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. During the same quarter last year, the company posted $0.56 earnings per share.

Carriage Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be given a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 1.73%. The ex-dividend date is Friday, May 3rd. Carriage Services’s dividend payout ratio is currently 22.17%.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $25.87, for a total value of $168,155.00. Following the completion of the transaction, the vice president now directly owns 38,178 shares of the company’s stock, valued at $987,664.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carriage Services news, Director Charles Fargason bought 6,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average cost of $25.58 per share, for a total transaction of $153,480.00. Following the transaction, the director now directly owns 14,640 shares of the company’s stock, valued at $374,491.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Paul Donald Elliott sold 6,500 shares of Carriage Services stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total value of $168,155.00. Following the completion of the transaction, the vice president now owns 38,178 shares of the company’s stock, valued at approximately $987,664.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,372 shares of company stock worth $369,521. Insiders own 12.10% of the company’s stock.

Institutional Trading of Carriage Services

Institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC acquired a new position in shares of Carriage Services during the 1st quarter worth approximately $27,000. Parallel Advisors LLC purchased a new position in Carriage Services during the fourth quarter valued at $38,000. Tower Research Capital LLC TRC lifted its holdings 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 valued at $92,000 after purchasing an additional 897 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $110,000 after purchasing an additional 1,848 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Carriage Services during the fourth quarter worth about $154,000. 66.46% of the stock is owned by institutional investors and hedge funds.

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.