Carriage Services (NYSE:CSV) Shares Gap Up - Here's What Happened

Key Points

• Carriage Services shares gapped higher, opening at $37.19 versus a prior close of $35.68, before trading at $36.43.
• Analyst sentiment is mixed: the stock has an average “Hold” rating and a consensus price target of $50, with ratings ranging from “Outperform” to “Strong Sell.”
• The company reported quarterly EPS of $0.78, below the $0.82 estimate, and revenue of $102.95 million, below expectations; it also declared a quarterly dividend of $0.1125 per share, yielding about 1.2% annually.

Carriage Services, Inc. (NYSE:CSV - Get Free Report)'s share price gapped up prior to trading on Friday. The stock had previously closed at $35.68, but opened at $37.19. Carriage Services shares last traded at $36.43, with a volume of 2,864 shares changing hands.

Wall Street Analysts Forecast Growth

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

Carriage Services Stock Performance

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.29 and a current ratio of 1.46. The stock has a market cap of $579.25 million, a P/E ratio of 13.06, a P/E/G ratio of 0.71 and a beta of 0.79. The business's 50-day moving average price is $33.49 and its 200-day moving average price is $38.77.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.82 by ($0.04). Carriage Services had a net margin of 10.69% and a return on equity of 19.23%. The company had revenue of $102.95 million for the quarter, compared to analysts' expectations of $108.91 million. Carriage Services has set its FY 2026 guidance at 3.350-3.550 EPS. As a group, sell-side analysts expect that Carriage Services, Inc. will post 3.36 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 2nd will be issued a $0.1125 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.2%. Carriage Services's payout ratio is presently 16.13%.

Hedge Funds Weigh In On Carriage Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in Carriage Services by 50.8% during the first quarter. PNC Financial Services Group Inc. now owns 784 shares of the company's stock valued at $36,000 after buying an additional 264 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Carriage Services by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,939 shares of the company's stock worth $454,000 after buying an additional 321 shares during the period. First Trust Advisors LP boosted its position in Carriage Services by 0.8% during the 1st quarter. First Trust Advisors LP now owns 50,199 shares of the company's stock valued at $2,292,000 after acquiring an additional 422 shares in the last quarter. Optiver Holding B.V. boosted its position in Carriage Services by 2,195.1% during the 1st quarter. Optiver Holding B.V. now owns 941 shares of the company's stock valued at $43,000 after acquiring an additional 900 shares in the last quarter. Finally, R Squared Ltd boosted its position in Carriage Services by 6.1% during the 1st quarter. R Squared Ltd now owns 17,375 shares of the company's stock valued at $793,000 after acquiring an additional 1,002 shares in the last quarter. 66.46% of the stock is currently owned by institutional investors.

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.

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