B. Riley Expects Higher Earnings for Carriage Services

Carriage Services, Inc. (NYSE:CSV) – Equities researchers at B. Riley boosted their FY2024 earnings per share (EPS) estimates for Carriage Services in a research note issued on Friday, November 1st. B. Riley analyst L. Burke now anticipates that the company will post earnings of $2.50 per share for the year, up from their prior estimate of $2.33. The consensus estimate for Carriage Services’ current full-year earnings is $2.50 per share. B. Riley also issued estimates for Carriage Services’ FY2025 earnings at $2.52 EPS.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating 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 business had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share.

Several other equities analysts have also issued reports on CSV. Barrington Research upped their price target on Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Roth Mkm reiterated a “buy” rating and issued a $40.00 price objective (up previously from $32.00) on shares of Carriage Services in a report on Friday, August 2nd.

Carriage Services Trading Up 2.1 %

Shares of CSV opened at $37.54 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14. Carriage Services has a 12-month low of $18.06 and a 12-month high of $38.33. The firm has a market capitalization of $570.98 million, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.00 and a beta of 0.91. The stock’s fifty day simple moving average is $32.53 and its 200-day simple moving average is $29.55.

Institutional Investors Weigh In On Carriage Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Carriage Services during the first quarter valued at approximately $27,000. nVerses Capital LLC raised its position in shares of Carriage Services by 550.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock worth $35,000 after buying an additional 1,100 shares in the last quarter. Point72 DIFC Ltd raised its position in Carriage Services by 613.0% during the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after purchasing an additional 1,600 shares in the last quarter. Perritt Capital Management Inc raised its position in Carriage Services by 5,001.0% during the second quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock valued at $137,000 after purchasing an additional 5,001 shares in the last quarter. Finally, EMC Capital Management purchased a new stake in Carriage Services during the first quarter valued at about $168,000. Institutional investors own 66.46% of the company’s stock.

Insider Activity at Carriage Services

In other Carriage Services news, VP Shawn R. Phillips sold 7,101 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.00, for a total value of $213,030.00. Following the completion of the sale, the vice president now directly owns 90,700 shares in the company, valued at $2,721,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Shawn R. Phillips sold 7,101 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the transaction, the vice president now directly owns 90,700 shares in the company, valued at approximately $2,721,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Shawn R. Phillips sold 5,000 shares of the 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 transaction, the vice president now 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 currently owned by corporate insiders.

Carriage Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued 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 1.20%. Carriage Services’s dividend payout ratio is presently 20.18%.

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.