Roth Capital Brokers Boost Earnings Estimates for Carriage Services, Inc. (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Equities research analysts at Roth Capital boosted their Q2 2024 earnings estimates for shares of Carriage Services in a report issued on Thursday, May 2nd. Roth Capital analyst G. Kelly now anticipates that the company will earn $0.59 per share for the quarter, up from their previous estimate of $0.54. The consensus estimate for Carriage Services’ current full-year earnings is $2.26 per share. Roth Capital also issued estimates for Carriage Services’ Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.67 EPS, Q3 2025 earnings at $0.60 EPS and Q4 2025 earnings at $0.74 EPS.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.59 by $0.16. The business had revenue of $103.49 million for the quarter, compared to analysts’ expectations 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 earned $0.56 EPS.

CSV has been the topic of several other research reports. Barrington Research reiterated an “outperform” rating and issued a $38.00 price target on shares of Carriage Services in a research note on Thursday, May 2nd. StockNews.com cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Roth Mkm reiterated a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of Carriage Services in a research note on Friday, May 3rd.

Carriage Services Stock Down 0.6 %

Shares of CSV stock opened at $25.58 on Monday. The stock has a market cap of $387.21 million, a P/E ratio of 12.60, a PEG ratio of 0.77 and a beta of 0.87. Carriage Services has a 52 week low of $18.06 and a 52 week high of $35.59. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.32. The company’s fifty day simple moving average is $25.42 and its two-hundred day simple moving average is $24.40.

Carriage Services Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, May 3rd. Carriage Services’s dividend payout ratio is 22.17%.

Insider Activity

In other 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 transaction of $42,616.28. Following the sale, the chief operating officer now directly owns 57,062 shares in the company, valued at approximately $1,459,645.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Charles Fargason purchased 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were bought at an average cost of $25.58 per share, for a total transaction of $153,480.00. Following the acquisition, the director now owns 14,640 shares of the company’s stock, valued at approximately $374,491.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $42,616.28. Following the transaction, the chief operating officer now owns 57,062 shares in the company, valued at $1,459,645.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,372 shares of company stock worth $369,521. 11.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carriage Services

Hedge funds have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC bought a new position in Carriage Services during the 1st quarter valued at about $27,000. Parallel Advisors LLC bought a new position in Carriage Services during the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC grew its holdings in Carriage Services by 32.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock valued at $92,000 after purchasing an additional 897 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Carriage Services by 89.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,907 shares of the company’s stock valued at $110,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Creekmur Asset Management LLC bought a new position in Carriage Services in the 4th quarter worth about $154,000. 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.