Carriage Services, Inc. to Post Q3 2024 Earnings of $0.49 Per Share, B. Riley Forecasts (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Stock analysts at B. Riley increased their Q3 2024 earnings per share (EPS) estimates for shares of Carriage Services in a report issued on Thursday, May 2nd. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $0.49 for the quarter, up from their prior forecast 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.

Other analysts also recently issued reports about the company. StockNews.com downgraded Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Carriage Services in a research report on Thursday. Finally, Roth Mkm reissued a “buy” rating and issued a $32.00 target price (up previously from $31.00) on shares of Carriage Services in a research report on Friday.

Carriage Services Price Performance

Shares of CSV opened at $26.00 on Friday. Carriage Services has a twelve month low of $18.06 and a twelve month high of $35.59. The company has a market capitalization of $393.64 million, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The firm has a 50 day moving average of $25.40 and a 200 day moving average of $24.34. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.32.

Carriage Services (NYSE:CSV) last announced 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 company had revenue of $103.49 million for 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 in the previous year, the business posted $0.56 EPS.

Carriage Services Announces Dividend

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

Insider Activity at Carriage Services

In other news, VP Paul Donald Elliott sold 6,500 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the completion of the sale, the vice president now owns 38,178 shares of the company’s stock, valued at approximately $987,664.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Melvin C. Payne sold 3,524 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total value of $90,143.92. Following the transaction, 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 legal filing with the SEC, which is available through the SEC website. Also, VP Paul Donald Elliott sold 6,500 shares of the business’s 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 sale, the vice president now directly owns 38,178 shares of the company’s stock, valued at approximately $987,664.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,372 shares of company stock worth $369,521. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Carriage Services by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock worth $24,135,000 after acquiring an additional 16,448 shares during the period. Heartland Advisors Inc. increased its stake in shares of Carriage Services by 17.6% in the fourth quarter. Heartland Advisors Inc. now owns 319,046 shares of the company’s stock worth $7,979,000 after purchasing an additional 47,646 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Carriage Services by 23.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 210,891 shares of the company’s stock valued at $5,274,000 after purchasing an additional 39,525 shares during the period. Harbert Fund Advisors Inc. lifted its stake in shares of Carriage Services by 31.5% during the 4th quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock valued at $5,215,000 after buying an additional 50,000 shares in the last quarter. Finally, Mill Road Capital Management LLC boosted its holdings in Carriage Services by 5.2% in the 4th quarter. Mill Road Capital Management LLC now owns 179,466 shares of the company’s stock worth $4,488,000 after buying an additional 8,800 shares during the period. 66.46% of the stock is owned by hedge funds and other institutional investors.

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.