Roth Capital Brokers Boost Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Investment analysts at Roth Capital raised their Q2 2024 earnings per share estimates for shares of Carriage Services in a research note issued to investors on Thursday, May 2nd. Roth Capital analyst G. Kelly now anticipates that the company will post earnings of $0.59 per share for the quarter, up from their previous estimate of $0.54. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 per share. Roth Capital also issued estimates for Carriage Services’ Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.60 EPS and Q4 2025 earnings at $0.74 EPS.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.59 by $0.16. The firm 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 in the prior year, the company earned $0.56 EPS.

CSV has been the topic of a number of other reports. StockNews.com lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Barrington Research reaffirmed an “outperform” rating and issued a $38.00 price target on shares of Carriage Services in a report on Thursday, May 2nd. Finally, Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of Carriage Services in a research note on Friday, May 3rd.

Carriage Services Price Performance

Carriage Services stock opened at $25.58 on Monday. The company has a fifty day simple moving average of $25.42 and a 200-day simple moving average of $24.40. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $387.21 million, a price-to-earnings ratio of 12.60, 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.

Carriage Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders 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 dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, May 3rd. Carriage Services’s payout ratio is presently 22.17%.

Insider Activity at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was 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 $987,664.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the 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 transaction, the vice president now owns 38,178 shares of the company’s stock, valued at $987,664.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Melvin C. Payne sold 3,524 shares of the business’s 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 completion of the sale, the director now directly owns 1,129,809 shares in the company, valued at $28,900,514.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,372 shares of company stock worth $369,521. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Carriage Services

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Carriage Services by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock valued at $24,135,000 after acquiring an additional 16,448 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Carriage Services by 7.4% in the first quarter. Heartland Advisors Inc. now owns 342,500 shares of the company’s stock valued at $9,261,000 after purchasing an additional 23,454 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Carriage Services by 23.1% in the fourth 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 in the last quarter. Harbert Fund Advisors Inc. increased its stake in Carriage Services by 31.5% during the 4th quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock worth $5,215,000 after buying an additional 50,000 shares during the period. Finally, Mill Road Capital Management LLC increased its stake in Carriage Services by 5.2% during 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 institutional investors and hedge funds.

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.