Carriage Services (NYSE:CSV) Announces Earnings Results

Carriage Services (NYSE:CSV) issued its earnings results on Wednesday. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.16, Zacks reports. Carriage Services had a net margin of 8.73% and a return on equity of 21.39%. The firm had revenue of $103.49 million for the quarter, compared to analysts’ expectations of $98.17 million. During the same quarter last year, the company posted $0.56 earnings per share. Carriage Services updated its FY 2024 guidance to 2.200-2.300 EPS.

Carriage Services Stock Performance

Shares of NYSE:CSV traded down $0.15 during trading hours on Thursday, hitting $25.66. The stock had a trading volume of 245,342 shares, compared to its average volume of 93,900. The stock’s fifty day simple moving average is $25.40 and its 200 day simple moving average is $24.33. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.59. The firm has a market capitalization of $388.49 million, a price-to-earnings ratio of 12.07, a PEG ratio of 0.76 and a beta of 0.87. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.65 and a current ratio of 0.82.

Carriage Services Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.75%. Carriage Services’s payout ratio is currently 20.93%.

Insider Buying and Selling at Carriage Services

In related news, COO Carlos R. Quezada sold 1,666 shares of the firm’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 $42,616.28. Following the transaction, the chief operating officer now owns 57,062 shares in the company, valued at $1,459,645.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Melvin C. Payne sold 3,524 shares of the firm’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 transaction, the director now owns 1,129,809 shares in the company, valued at $28,900,514.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Carlos R. Quezada sold 1,666 shares of the firm’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 $42,616.28. Following the transaction, the chief operating officer now owns 57,062 shares in the company, valued at approximately $1,459,645.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,372 shares of company stock worth $369,521. 12.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSV has been the topic of several analyst reports. StockNews.com lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research restated an “outperform” rating and issued a $38.00 price target on shares of Carriage Services in a research note on Thursday.

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.