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

Carriage Services, Inc. (NYSE:CSV) – Investment analysts at B. Riley boosted their Q3 2024 EPS estimates for shares of Carriage Services in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst L. Burke now anticipates that the company will post earnings of $0.49 per share for the quarter, up from their prior forecast 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.16. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. The firm had revenue of $103.49 million for the quarter, compared to the consensus estimate of $98.17 million. During the same quarter in the previous year, the firm earned $0.56 EPS.

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

Carriage Services Stock Up 1.8 %

NYSE:CSV opened at $26.00 on Friday. The company has a market cap of $393.64 million, a PE ratio of 12.81, a P/E/G ratio of 0.76 and a beta of 0.87. Carriage Services has a twelve month low of $18.06 and a twelve month high of $35.59. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.32. The company’s 50 day moving average is $25.40 and its two-hundred day moving average is $24.35.

Carriage Services Announces Dividend

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

Insider Buying and Selling at Carriage Services

In other Carriage Services news, 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 transaction of $35,505.04. Following the completion of the sale, the executive vice president now directly owns 42,975 shares in the company, valued at approximately $1,099,300.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Melvin C. Payne sold 3,524 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total value of $90,143.92. Following the completion of the transaction, the director now directly owns 1,129,809 shares in the company, valued at approximately $28,900,514.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Steven D. Metzger sold 1,388 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $25.58, for a total transaction of $35,505.04. Following the completion of the transaction, the executive vice president now owns 42,975 shares of the company’s stock, valued at $1,099,300.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,372 shares of company stock worth $369,521. Company insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Large investors have recently made changes to their positions in the company. Mendel Money Management raised its position in Carriage Services by 187.5% during the first quarter. Mendel Money Management now owns 60,034 shares of the company’s stock worth $1,623,000 after acquiring an additional 128,648 shares during the period. BNP Paribas Financial Markets raised its position in Carriage Services by 741.8% during the first quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock worth $2,376,000 after acquiring an additional 77,439 shares during the period. Harbert Fund Advisors Inc. raised its position in Carriage Services by 31.5% during the fourth quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock worth $5,215,000 after acquiring an additional 50,000 shares during the period. Heartland Advisors Inc. raised its position in Carriage Services by 17.6% during the fourth quarter. Heartland Advisors Inc. now owns 319,046 shares of the company’s stock worth $7,979,000 after acquiring an additional 47,646 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Carriage Services by 23.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 210,891 shares of the company’s stock worth $5,274,000 after acquiring an additional 39,525 shares during the period. 66.46% of the stock is currently owned by institutional investors and hedge funds.

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.