FY2024 EPS Estimate for Carriage Services Boosted by Analyst

Carriage Services, Inc. (NYSE:CSV) – Analysts at Barrington Research lifted their FY2024 earnings per share (EPS) estimates for shares of Carriage Services in a report issued on Thursday, October 31st. Barrington Research analyst A. Paris now anticipates that the company will earn $2.50 per share for the year, up from their previous estimate of $2.35. Barrington Research currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.50 per share. Barrington Research also issued estimates for Carriage Services’ FY2025 earnings at $2.80 EPS.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. The company had revenue of $100.69 million for the quarter, compared to analysts’ expectations of $93.49 million. During the same quarter last year, the business earned $0.33 earnings per share.

Separately, Roth Mkm reissued a “buy” rating and set a $40.00 price target (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Carriage Services Stock Performance

Carriage Services stock opened at $37.54 on Monday. Carriage Services has a 12-month low of $18.06 and a 12-month high of $38.33. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14. The business’s 50-day moving average price is $32.53 and its two-hundred day moving average price is $29.55. The stock has a market cap of $570.98 million, a PE ratio of 16.74, a P/E/G ratio of 1.00 and a beta of 0.91.

Carriage Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.45 annualized dividend and a dividend yield of 1.20%. Carriage Services’s dividend payout ratio is 20.18%.

Insider Activity

In related news, VP Shawn R. Phillips sold 7,101 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the sale, the vice president now owns 90,700 shares in the company, valued at approximately $2,721,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Shawn R. Phillips sold 7,101 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the transaction, the vice president now owns 90,700 shares of the company’s stock, valued at $2,721,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shawn R. Phillips sold 5,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $29.73, for a total value of $148,650.00. Following the sale, the vice president now directly owns 97,801 shares in the company, valued at $2,907,623.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

A number of institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in Carriage Services by 201.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock worth $6,166,000 after acquiring an additional 153,538 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Carriage Services in the 3rd quarter valued at approximately $4,310,000. BNP Paribas Financial Markets increased its position in Carriage Services by 741.8% during the 1st quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock valued at $2,376,000 after buying an additional 77,439 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Carriage Services during the 1st quarter valued at approximately $1,517,000. Finally, Renaissance Technologies LLC increased its position in Carriage Services by 8.2% during the 2nd quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock valued at $16,547,000 after buying an additional 46,700 shares in the last quarter. 66.46% of the stock is currently owned by institutional investors.

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.