Barrington Research Research Analysts Reduce Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Analysts at Barrington Research lowered their Q2 2024 EPS estimates for Carriage Services in a note issued to investors on Thursday, May 2nd. Barrington Research analyst A. Paris now anticipates that the company will post earnings per share of $0.48 for the quarter, down from their prior estimate of $0.52. Barrington Research currently has a “Outperform” rating and a $38.00 target price on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 per share. Barrington Research also issued estimates for Carriage Services’ Q3 2024 earnings at $0.34 EPS and Q4 2024 earnings at $0.69 EPS.

CSV has been the subject of a number of other research reports. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $31.00) on shares of Carriage Services in a report on Friday. StockNews.com downgraded shares of Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st.

Carriage Services Stock Performance

Carriage Services stock opened at $25.74 on Monday. The company has a market cap of $389.70 million, a PE ratio of 12.68, a P/E/G ratio of 0.77 and a beta of 0.87. The company has a fifty day moving average price of $25.41 and a two-hundred day moving average price of $24.38. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.82 and a quick ratio of 0.65. Carriage Services has a 12 month low of $18.06 and a 12 month high of $35.59.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.56 earnings per share.

Institutional Investors Weigh In On Carriage Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its stake in shares of Carriage Services by 109.6% during the third quarter. Assenagon Asset Management S.A. now owns 72,610 shares of the company’s stock valued at $2,051,000 after purchasing an additional 37,972 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Carriage Services during the third quarter valued at about $210,000. Heartland Advisors Inc. grew its holdings in Carriage Services by 11.2% during the third quarter. Heartland Advisors Inc. now owns 271,400 shares of the company’s stock worth $7,667,000 after acquiring an additional 27,250 shares during the period. Vanguard Group Inc. grew its holdings in Carriage Services by 2.0% during the third quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock worth $24,135,000 after acquiring an additional 16,448 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Carriage Services by 1.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 147,848 shares of the company’s stock worth $4,177,000 after acquiring an additional 2,415 shares during the period. 66.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $25.87, for a total value of $168,155.00. Following the sale, the vice president now directly owns 38,178 shares in the company, valued at $987,664.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Paul Donald Elliott sold 6,500 shares of Carriage Services 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 directly owns 38,178 shares in the company, valued at $987,664.86. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles Fargason acquired 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were bought at an average price of $25.58 per share, for a total transaction of $153,480.00. Following the completion of the purchase, the director now owns 14,640 shares of the company’s stock, valued at $374,491.20. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 14,372 shares of company stock worth $369,521. 11.30% of the stock is owned by insiders.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Friday, May 3rd. Carriage Services’s payout ratio is 22.17%.

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.