B. Riley Brokers Lift Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – B. Riley raised their Q3 2024 earnings estimates for Carriage Services in a report released on Thursday, May 2nd. B. Riley analyst L. Burke now expects that the company will earn $0.49 per share for the quarter, up from their previous estimate of $0.44. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 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) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.59 by $0.16. The firm had revenue of $103.49 million during the quarter, compared to the consensus estimate of $98.17 million. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. During the same period in the prior year, the firm posted $0.56 earnings per share.

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

Carriage Services Stock Performance

Shares of NYSE:CSV opened at $26.00 on Friday. The company has a market cap of $393.64 million, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The company has a 50-day moving average price of $25.40 and a 200-day moving average price of $24.35. 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 12 month low of $18.06 and a 12 month high of $35.59.

Carriage Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 6th will be given a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, May 3rd. Carriage Services’s dividend payout ratio is currently 22.17%.

Insider Activity at Carriage Services

In other Carriage Services news, Director Melvin C. Payne sold 3,524 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $90,143.92. Following the sale, the director now owns 1,129,809 shares in the company, valued at $28,900,514.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Carriage Services news, COO Carlos R. Quezada sold 1,666 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $42,616.28. Following the sale, the chief operating officer now owns 57,062 shares in the company, valued at $1,459,645.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Melvin C. Payne sold 3,524 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $25.58, for a total transaction of $90,143.92. Following the completion of the sale, the director now 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 over the last 90 days. 12.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carriage Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FinTrust Capital Advisors LLC purchased a new stake in shares of Carriage Services during the first quarter valued at approximately $27,000. Parallel Advisors LLC purchased a new stake in shares of Carriage Services during the fourth quarter valued at approximately $38,000. Tower Research Capital LLC TRC grew its holdings in shares of Carriage Services by 32.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock valued at $92,000 after buying an additional 897 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Carriage Services by 89.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,907 shares of the company’s stock valued at $110,000 after buying an additional 1,848 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Carriage Services during the fourth quarter valued at approximately $154,000. Hedge funds and other institutional investors own 66.46% 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.