Barrington Research Research Analysts Reduce Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Research analysts at Barrington Research lowered their Q2 2024 earnings per share estimates for Carriage Services in a note issued to investors on Thursday, May 2nd. Barrington Research analyst A. Paris now forecasts that the company will post earnings per share of $0.48 for the quarter, down from their prior estimate of $0.52. Barrington Research currently has a “Outperform” rating and a $38.00 price target 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 research firms also recently issued reports on CSV. StockNews.com downgraded Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Roth Mkm restated a “buy” rating and issued a $32.00 price target (up from $31.00) on shares of Carriage Services in a research note on Friday.

Carriage Services Stock Down 1.0 %

NYSE:CSV opened at $25.74 on Monday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.65 and a current ratio of 0.82. The company has a market cap of $389.70 million, a PE ratio of 12.68, a PEG ratio of 0.77 and a beta of 0.87. Carriage Services has a 52-week low of $18.06 and a 52-week high of $35.59. The stock has a 50-day simple moving average of $25.41 and a 200 day simple moving average of $24.38.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data 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 the consensus estimate of $98.17 million. Carriage Services had a return on equity of 22.58% and a net margin of 8.08%. During the same period last year, the company earned $0.56 earnings per share.

Carriage Services Dividend Announcement

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 paid a $0.1125 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.45 dividend on an annualized basis and a yield of 1.75%. Carriage Services’s dividend payout ratio is 22.17%.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the firm’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 in the company, valued at $987,664.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Steven D. Metzger sold 1,388 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total value of $35,505.04. Following the completion of the sale, the executive vice president now directly owns 42,975 shares of the company’s stock, valued at $1,099,300.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Donald Elliott sold 6,500 shares of the firm’s stock in a transaction that occurred on 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 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 sold a total of 14,372 shares of company stock worth $369,521 over the last ninety days. 11.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Carriage Services

A number of hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP lifted its holdings in Carriage Services by 202.9% during the 1st quarter. GSA Capital Partners LLP now owns 51,023 shares of the company’s stock worth $1,380,000 after purchasing an additional 34,178 shares during the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Carriage Services during the 1st quarter worth approximately $27,000. Mendel Money Management lifted its holdings in Carriage Services by 187.5% during the 1st quarter. Mendel Money Management now owns 60,034 shares of the company’s stock worth $1,623,000 after purchasing an additional 128,648 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Carriage Services by 741.8% during 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. Finally, Assenagon Asset Management S.A. lifted its holdings in Carriage Services by 22.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 76,180 shares of the company’s stock worth $2,060,000 after purchasing an additional 13,979 shares during the last quarter. 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.