Carriage Services (NYSE:CSV) Updates FY 2024 Earnings Guidance

Carriage Services (NYSE:CSV) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.450-2.550 for the period, compared to the consensus estimate of 2.340. The company issued revenue guidance of $395.0 million-$405.0 million, compared to the consensus revenue estimate of $395.8 million.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CSV shares. Barrington Research upped their price target on Carriage Services from $39.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday. Roth Mkm reiterated a “buy” rating and issued a $40.00 target price (up previously from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Carriage Services Stock Performance

Shares of Carriage Services stock traded down $0.50 during mid-day trading on Friday, hitting $36.89. 154,283 shares of the stock were exchanged, compared to its average volume of 106,749. The company has a market capitalization of $561.06 million, a P/E ratio of 16.56, a P/E/G ratio of 0.93 and a beta of 0.94. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.69 and a current ratio of 0.85. The company has a 50-day simple moving average of $32.53 and a 200 day simple moving average of $29.46. Carriage Services has a 12 month low of $18.06 and a 12 month high of $38.33.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.10. The business had revenue of $102.32 million for the quarter, compared to analysts’ expectations of $94.40 million. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. Sell-side analysts anticipate that Carriage Services will post 2.34 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is currently 20.18%.

Insider Activity at Carriage Services

In other Carriage Services news, VP Shawn R. Phillips sold 7,101 shares of Carriage Services stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.00, for a total value of $213,030.00. Following the sale, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Shawn R. Phillips sold 7,101 shares of Carriage Services stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $30.00, for a total value of $213,030.00. Following the sale, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carlos R. Quezada acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the purchase, the chief executive officer now owns 60,061 shares of the company’s stock, valued at $1,768,195.84. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 12.10% of the stock is owned by company insiders.

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.