B. Riley Equities Analysts Raise Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV - Free Report) - Research analysts at B. Riley lifted their Q3 2024 EPS estimates for shares of Carriage Services in a note issued to investors on Thursday, May 2nd. B. Riley analyst L. Burke now anticipates that the company will earn $0.49 per share for the quarter, up from their previous forecast of $0.44. The consensus estimate for Carriage Services' current full-year earnings is $2.25 per share. B. Riley also issued estimates for Carriage Services' Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $2.27 EPS and FY2025 earnings at $2.32 EPS.

Carriage Services (NYSE:CSV - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.16. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. The company had revenue of $103.49 million during the quarter, compared to analyst estimates of $98.17 million. During the same period in the prior year, the business posted $0.56 earnings per share.

Several other analysts have also recently weighed in on the stock. Roth Mkm reiterated a "buy" rating and issued a $32.00 price target (up previously from $31.00) on shares of Carriage Services in a report on Friday. Barrington Research reaffirmed an "outperform" rating and issued a $38.00 target price on shares of Carriage Services in a research report on Thursday. Finally, StockNews.com cut shares of Carriage Services from a "buy" rating to a "hold" rating in a research report on Wednesday.

Carriage Services Trading Up 1.8 %

Shares of CSV stock traded up $0.46 during trading hours on Friday, reaching $26.00. The company's stock had a trading volume of 127,944 shares, compared to its average volume of 94,296. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.32. Carriage Services has a one year low of $18.06 and a one year high of $35.59. The stock has a market capitalization of $393.64 million, a P/E ratio of 12.81, a P/E/G ratio of 0.76 and a beta of 0.87. The firm's fifty day simple moving average is $25.40 and its 200 day simple moving average is $24.34.

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be issued a $0.1125 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.45 dividend on an annualized basis and a yield of 1.73%. Carriage Services's dividend payout ratio (DPR) is 22.17%.

Insiders Place Their Bets

In related news, VP Paul Donald Elliott sold 6,500 shares of the business's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the sale, the vice president now owns 38,178 shares of the company's stock, valued at $987,664.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Charles Fargason purchased 6,000 shares of the stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average price 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 $374,491.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul Donald Elliott sold 6,500 shares of the company'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 owns 38,178 shares in the company, valued at approximately $987,664.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,372 shares of company stock worth $369,521. 12.10% of the stock is owned by corporate insiders.

Institutional Trading of Carriage Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Carriage Services by 0.8% during the third quarter. Bank of New York Mellon Corp now owns 149,859 shares of the company's stock valued at $4,234,000 after buying an additional 1,151 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Carriage Services by 89.8% in 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 last quarter. Skylands Capital LLC purchased a new stake in shares of Carriage Services during the third quarter valued at $613,000. Assenagon Asset Management S.A. increased its holdings in Carriage Services by 109.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 72,610 shares of the company's stock worth $2,051,000 after buying an additional 37,972 shares in the last quarter. Finally, Heartland Advisors Inc. raised its position in Carriage Services by 11.2% in the 3rd quarter. Heartland Advisors Inc. now owns 271,400 shares of the company's stock worth $7,667,000 after buying an additional 27,250 shares during the last quarter. 66.46% of the stock is currently owned by institutional investors.

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.