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

Carriage Services (NYSE:CSV) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.450-2.550 for the period, compared to the consensus EPS 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.

Carriage Services Stock Up 14.5 %

NYSE:CSV opened at $37.38 on Friday. Carriage Services has a 1-year low of $18.06 and a 1-year high of $38.33. The firm has a market capitalization of $568.55 million, a price-to-earnings ratio of 16.76, a PEG ratio of 0.93 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.69 and a debt-to-equity ratio of 2.14. The business’s fifty day moving average price is $32.31 and its 200 day moving average price is $29.32.

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

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a yield of 1.20%. Carriage Services’s payout ratio is 20.18%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, VP Shawn R. Phillips sold 7,101 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $213,030.00. Following the transaction, the vice president now owns 90,700 shares in the company, valued at approximately $2,721,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Carlos R. Quezada purchased 2,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the completion of the acquisition, the chief executive officer now directly owns 60,061 shares in the company, valued at approximately $1,768,195.84. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Shawn R. Phillips sold 7,101 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the sale, the vice president now owns 90,700 shares of the company’s stock, valued at $2,721,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.10% of the company’s stock.

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.