Carriage Services (NYSE:CSV) Issues 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 2.200-2.300 for the period, compared to the consensus estimate of 2.260. The company issued revenue guidance of $380.0 million-$390.0 million, compared to the consensus revenue estimate of $385.6 million.

Carriage Services Trading Up 0.9 %

CSV stock traded up $0.23 during midday trading on Wednesday, hitting $25.81. The company had a trading volume of 59,039 shares, compared to its average volume of 92,098. 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 52 week low of $18.06 and a 52 week high of $35.59. The stock has a market cap of $390.76 million, a price-to-earnings ratio of 12.04, a PEG ratio of 0.77 and a beta of 0.84. The stock’s 50 day moving average price is $25.39 and its 200 day moving average price is $24.32.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.28. Carriage Services had a net margin of 8.73% and a return on equity of 21.39%. The business had revenue of $98.83 million during the quarter, compared to analysts’ expectations of $93.27 million. As a group, equities research analysts expect that Carriage Services will post 2.25 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be given a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, May 3rd. Carriage Services’s payout ratio is 20.93%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. StockNews.com downgraded Carriage Services from a buy rating to a hold rating in a report on Friday, March 15th. Barrington Research reiterated an outperform rating and issued a $38.00 price target on shares of Carriage Services in a research note on Friday, April 19th.

Insider Transactions at Carriage Services

In other news, VP Paul Donald Elliott sold 6,500 shares of the company’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 completion of the sale, the vice president now directly owns 38,178 shares in the company, valued at approximately $987,664.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Paul Donald Elliott sold 6,500 shares of Carriage Services stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $25.87, for a total transaction of $168,155.00. Following the transaction, the vice president now owns 38,178 shares in the company, valued at approximately $987,664.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Steven D. Metzger sold 1,388 shares of Carriage Services stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $35,505.04. Following the sale, the executive vice president now directly owns 42,975 shares in the company, valued at approximately $1,099,300.50. The disclosure for this sale can be found here. Insiders have sold a total of 14,372 shares of company stock worth $369,521 in the last ninety days. Insiders own 11.30% 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.