Carriage Services (NYSE:CSV) Announces Earnings Results, Misses Expectations By $0.20 EPS

Key Points

• Carriage Services reported quarterly EPS of $0.59, missing the consensus estimate of $0.79 by $0.20.
• Despite the earnings miss, shares rose 4.7% on Wednesday to $35.86.
• The company declared a quarterly dividend of $0.1125 per share, equivalent to a 1.3% annual yield; analysts’ average rating was “Hold,” with a $50 price target.

Carriage Services (NYSE:CSV - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.20), FiscalAI reports. Carriage Services had a return on equity of 19.23% and a net margin of 10.69%.

Carriage Services Trading Up 4.7%

NYSE:CSV traded up $1.60 on Wednesday, reaching $35.86. 376,192 shares of the stock traded hands, compared to its average volume of 265,458. Carriage Services has a 1-year low of $30.11 and a 1-year high of $52.10. The company has a current ratio of 1.46, a quick ratio of 1.29 and a debt-to-equity ratio of 1.92. The company's 50 day moving average is $33.62 and its 200-day moving average is $39.93. The firm has a market capitalization of $569.15 million, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 0.68 and a beta of 0.72.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 2nd will be given a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, November 2nd. Carriage Services's dividend payout ratio (DPR) is currently 16.13%.

Wall Street Analyst Weigh In

CSV has been the topic of a number of analyst reports. Zacks Research downgraded Carriage Services from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Oppenheimer assumed coverage on Carriage Services in a research note on Thursday, August 13th. They issued an "outperform" rating and a $48.00 price target on the stock. Weiss Ratings cut Carriage Services from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, August 19th. Raymond James Financial set a $50.00 price target on shares of Carriage Services in a research note on Friday, August 7th. Finally, Roth Capital set a $42.00 target price on Carriage Services in a research report on Friday, October 2nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Carriage Services presently has an average rating of "Hold" and an average target price of $50.00.

Carriage Services Company Profile

Carriage Services, Inc is a provider of funeral and cemetery services in the United States. The company operates funeral homes and cemeteries that serve families through arrangements for traditional funerals, cremation services, memorial ceremonies and related merchandise.

Its cemetery operations provide interment and memorialization services, including burial plots, mausoleums, cremation niches and other cemetery products. Carriage Services also offers advance-planning and prearrangement services, allowing individuals and families to make funeral and cemetery arrangements before they are needed.

Founded in 1991 and headquartered in Houston, Texas, Carriage Services operates through a network of funeral homes and cemeteries across multiple U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.