CSV FY2024 EPS Forecast Increased by Barrington Research

Carriage Services, Inc. (NYSE:CSV) – Equities researchers at Barrington Research boosted their FY2024 earnings estimates for shares of Carriage Services in a research report issued on Thursday, October 31st. Barrington Research analyst A. Paris now forecasts that the company will earn $2.50 per share for the year, up from their prior estimate of $2.35. Barrington Research currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.50 per share. Barrington Research also issued estimates for Carriage Services’ FY2025 earnings at $2.80 EPS.

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

Separately, Roth Mkm restated a “buy” rating and issued a $40.00 target price (up previously from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd.

Carriage Services Stock Down 1.3 %

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

Institutional Trading of Carriage Services

Institutional investors have recently bought and sold shares of the company. 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 purchasing an additional 77,439 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Carriage Services by 202.9% in 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 in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Carriage Services during the 1st quarter valued at $1,517,000. Assenagon Asset Management S.A. boosted its stake in Carriage Services by 201.5% during the second quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after acquiring an additional 153,538 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Carriage Services by 8.2% in the second quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock worth $16,547,000 after purchasing an additional 46,700 shares during the period. Institutional investors own 66.46% of the company’s stock.

Insider Activity

In other news, VP Shawn R. Phillips sold 5,000 shares of the firm’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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Shawn R. Phillips sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $29.73, for a total value of $148,650.00. Following the sale, the vice president now directly owns 97,801 shares in the company, valued at $2,907,623.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carlos R. Quezada purchased 2,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $29.44 per share, with a total value of $58,880.00. Following the acquisition, the chief executive officer now owns 60,061 shares in the company, valued at approximately $1,768,195.84. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 12.10% of the stock is currently owned by insiders.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.1125 dividend. This represents a $0.45 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, November 4th. 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.