Roth Capital Predicts Lower Earnings for Carriage Services

Carriage Services, Inc. (NYSE:CSV) – Investment analysts at Roth Capital reduced their Q4 2024 earnings per share estimates for shares of Carriage Services in a note issued to investors on Friday, November 1st. Roth Capital analyst G. Kelly now anticipates that the company will post earnings of $0.56 per share for the quarter, down from their prior estimate of $0.67. The consensus estimate for Carriage Services’ current full-year earnings is $2.50 per share. Roth Capital also issued estimates for Carriage Services’ Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.77 EPS, Q4 2025 earnings at $0.80 EPS and FY2025 earnings at $3.15 EPS.

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

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

Carriage Services Price Performance

Shares of CSV opened at $36.89 on Monday. The company has a market capitalization of $561.10 million, a P/E ratio of 16.54, a P/E/G ratio of 1.00 and a beta of 0.91. Carriage Services has a fifty-two week low of $18.06 and a fifty-two week high of $38.33. The business’s 50-day moving average is $32.53 and its two-hundred day moving average is $29.50. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.69 and a current ratio of 0.85.

Institutional Investors Weigh In On Carriage Services

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

Insider Activity at Carriage Services

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

Carriage Services Announces Dividend

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

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.