Research Analysts Set Expectations for CSV FY2024 Earnings

Carriage Services, Inc. (NYSE:CSV) – Investment analysts at B. Riley increased their FY2024 earnings estimates for shares of Carriage Services in a note issued to investors on Friday, November 1st. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $2.50 for the year, up from their previous estimate of $2.33. The consensus estimate for Carriage Services’ current full-year earnings is $2.50 per share. B. Riley also issued estimates for Carriage Services’ FY2025 earnings at $2.52 EPS.

Carriage Services (NYSE:CSV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.45 by $0.19. The business had revenue of $100.69 million during the quarter, compared to analysts’ expectations of $93.49 million. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. During the same period last year, the firm earned $0.33 EPS.

A number of other research firms also recently commented on CSV. Roth Mkm reiterated a “buy” rating and set a $40.00 target price (up from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd. Barrington Research raised their price target on Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday.

Carriage Services Trading Down 1.3 %

Shares of Carriage Services stock opened at $36.89 on Monday. Carriage Services has a 12-month low of $18.06 and a 12-month high of $38.33. The stock has a market cap of $561.10 million, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The company has a 50-day moving average of $32.53 and a two-hundred day moving average of $29.50. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 2.14.

Institutional Trading of Carriage Services

Several institutional investors have recently added to or reduced their stakes in CSV. BNP Paribas Financial Markets increased its position in shares of Carriage Services by 741.8% in the 1st quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock worth $2,376,000 after purchasing an additional 77,439 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Carriage Services by 202.9% in the first quarter. GSA Capital Partners LLP now owns 51,023 shares of the company’s stock worth $1,380,000 after acquiring an additional 34,178 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Carriage Services during the 1st quarter valued at approximately $1,517,000. Assenagon Asset Management S.A. boosted its stake in Carriage Services by 201.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock valued at $6,166,000 after purchasing an additional 153,538 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Carriage Services by 8.2% during the second quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock worth $16,547,000 after buying an additional 46,700 shares during the period. 66.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Carriage Services

In other Carriage Services news, VP Shawn R. Phillips sold 7,101 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the sale, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Shawn R. Phillips sold 5,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the transaction, the vice president now directly owns 97,801 shares of the company’s stock, valued at approximately $2,907,623.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shawn R. Phillips sold 7,101 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.00, for a total value of $213,030.00. Following the sale, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.

Carriage Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is 20.18%.

Carriage Services Company Profile

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.