Carriage Services (NYSE:CSV) Issues Earnings Results

Carriage Services (NYSE:CSV) announced 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. The company had revenue of $103.49 million during the quarter, compared to analysts’ expectations of $98.17 million. Carriage Services had a net margin of 8.73% and a return on equity of 21.39%. During the same quarter in the previous year, the business posted $0.56 earnings per share. Carriage Services updated its FY 2024 guidance to 2.200-2.300 EPS.

Carriage Services Trading Up 1.7 %

Shares of NYSE CSV traded up $0.44 during midday trading on Thursday, reaching $26.25. 151,424 shares of the stock were exchanged, compared to its average volume of 92,751. The company has a market capitalization of $397.43 million, a P/E ratio of 12.89, a P/E/G ratio of 0.76 and a beta of 0.87. Carriage Services has a 52-week low of $18.06 and a 52-week high of $35.59. 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 stock has a 50 day moving average price of $25.40 and a 200-day moving average price of $24.33.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be issued a dividend of $0.1125 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.71%. Carriage Services’s dividend payout ratio (DPR) is presently 20.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research report on Wednesday. Barrington Research restated an “outperform” rating and set a $38.00 target price on shares of Carriage Services in a research report on Friday, April 19th.

Insider Transactions at Carriage Services

In other news, COO Carlos R. Quezada sold 1,666 shares of Carriage Services stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total transaction of $42,616.28. Following the completion of the sale, the chief operating officer now directly owns 57,062 shares in the company, valued at $1,459,645.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Carlos R. Quezada sold 1,666 shares of Carriage Services stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total transaction of $42,616.28. Following the completion of the sale, the chief operating officer now directly owns 57,062 shares in the company, valued at $1,459,645.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Paul Donald Elliott sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the completion of the sale, the vice president now owns 38,178 shares of the company’s stock, valued at $987,664.86. The disclosure for this sale can be found here. Insiders sold a total of 14,372 shares of company stock worth $369,521 over the last ninety days. 12.10% of the stock is currently owned by corporate insiders.

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.