Q2 2024 Earnings Estimate for Carriage Services, Inc. (NYSE:CSV) Issued By Barrington Research

Carriage Services, Inc. (NYSE:CSV) – Investment analysts at Barrington Research cut their Q2 2024 earnings estimates for Carriage Services in a report issued on Thursday, May 2nd. Barrington Research analyst A. Paris now expects that the company will post earnings of $0.48 per share for the quarter, down from their previous forecast of $0.52. Barrington Research currently has a “Outperform” rating and a $38.00 price target on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 per share. Barrington Research also issued estimates for Carriage Services’ Q3 2024 earnings at $0.34 EPS and Q4 2024 earnings at $0.69 EPS.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.16. Carriage Services had a return on equity of 22.58% and a net margin of 8.08%. The company had revenue of $103.49 million for the quarter, compared to analyst estimates of $98.17 million. During the same period in the previous year, the firm earned $0.56 earnings per share.

Several other research analysts have also issued reports on CSV. StockNews.com lowered shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Carriage Services in a research report on Friday, May 3rd.

Carriage Services Stock Performance

Shares of Carriage Services stock opened at $25.58 on Monday. The company has a market cap of $387.21 million, a P/E ratio of 12.60, a PEG ratio of 0.77 and a beta of 0.87. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.32. The business has a 50-day moving average price of $25.42 and a two-hundred day moving average price of $24.40. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.59.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSV. FinTrust Capital Advisors LLC bought a new position in shares of Carriage Services during the 1st quarter worth $27,000. Parallel Advisors LLC purchased a new stake in Carriage Services during the fourth quarter valued at about $38,000. Tower Research Capital LLC TRC boosted its position in Carriage Services by 32.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock worth $92,000 after purchasing an additional 897 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Carriage Services by 89.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,907 shares of the company’s stock worth $110,000 after purchasing an additional 1,848 shares during the period. Finally, Creekmur Asset Management LLC purchased a new position in shares of Carriage Services in the fourth quarter worth about $154,000. 66.46% of the stock is owned by institutional investors.

Insider Activity

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 transaction, the vice president now directly owns 38,178 shares in the company, valued at approximately $987,664.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Carriage Services news, Director Charles Fargason bought 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average cost of $25.58 per share, with a total value of $153,480.00. Following the transaction, the director now directly owns 14,640 shares in the company, valued at approximately $374,491.20. The transaction 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 stock was 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 directly owns 38,178 shares in the company, valued at $987,664.86. The disclosure for this sale can be found here. Insiders have sold 14,372 shares of company stock worth $369,521 over the last 90 days. 11.30% of the stock is currently owned by corporate insiders.

Carriage Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be paid a $0.1125 dividend. 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 dividend payout ratio (DPR) is presently 22.17%.

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.