Carriage Services (NYSE:CSV) Issues Earnings Results

Carriage Services (NYSE:CSV - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.16, Zacks reports. Carriage Services had a return on equity of 21.39% and a net margin of 8.73%. The company had revenue of $103.49 million for the quarter, compared to analysts' expectations of $98.17 million. During the same period last year, the firm earned $0.56 earnings per share. Carriage Services updated its FY 2024 guidance to 2.200-2.300 EPS.

Carriage Services Stock Performance

CSV stock traded down $0.15 during trading on Thursday, hitting $25.66. The company had a trading volume of 245,342 shares, compared to its average volume of 93,900. The firm has a market cap of $388.49 million, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.59. The firm has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.33. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.32.

Carriage Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Friday, May 3rd. Carriage Services's dividend payout ratio (DPR) is currently 20.93%.

Wall Street Analysts Forecast Growth

CSV has been the topic of a number of research analyst reports. StockNews.com cut Carriage Services from a "buy" rating to a "hold" rating in a research report on Wednesday. Barrington Research reiterated an "outperform" rating and set a $38.00 target price on shares of Carriage Services in a research report on Thursday.

Insider Activity at Carriage Services

In related news, Director Melvin C. Payne sold 3,524 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total value of $90,143.92. Following the transaction, the director now owns 1,129,809 shares in the company, valued at approximately $28,900,514.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Carriage Services news, EVP Steven D. Metzger sold 1,388 shares of Carriage Services stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total value of $35,505.04. Following the sale, the executive vice president now owns 42,975 shares of the company's stock, valued at approximately $1,099,300.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Melvin C. Payne sold 3,524 shares of Carriage Services stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $90,143.92. Following the completion of the sale, the director now directly owns 1,129,809 shares in the company, valued at approximately $28,900,514.22. The disclosure for this sale can be found here. Insiders have sold 14,372 shares of company stock worth $369,521 in the last quarter. Company insiders own 12.10% of the company's stock.

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.