Carriage Services, Inc. (NYSE:CSV) Forecasted to Post Q4 2024 Earnings of $0.67 Per Share

Carriage Services, Inc. (NYSE:CSV) – Equities research analysts at Roth Capital boosted their Q4 2024 EPS estimates for Carriage Services in a research note issued on Thursday, August 1st. Roth Capital analyst G. Kelly now expects that the company will post earnings per share of $0.67 for the quarter, up from their prior estimate of $0.65. The consensus estimate for Carriage Services’ current full-year earnings is $2.35 per share. Roth Capital also issued estimates for Carriage Services’ Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.75 EPS, Q4 2025 earnings at $0.82 EPS and FY2025 earnings at $3.14 EPS.

A number of other brokerages have also commented on CSV. Roth Mkm reissued a “buy” rating and set a $40.00 price objective (up from $32.00) on shares of Carriage Services in a report on Friday, August 2nd. StockNews.com lowered Carriage Services from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $38.00 price objective on shares of Carriage Services in a report on Tuesday, May 28th.

Carriage Services Trading Up 0.7 %

CSV opened at $29.36 on Monday. Carriage Services has a fifty-two week low of $18.06 and a fifty-two week high of $35.00. The firm has a market capitalization of $445.02 million, a PE ratio of 14.46, a P/E/G ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.72 and a quick ratio of 0.57. The company’s 50-day moving average is $28.39 and its 200 day moving average is $26.47.

Hedge Funds Weigh In On Carriage Services

Several institutional investors and hedge funds have recently bought and sold shares of CSV. Vanguard Group Inc. boosted its holdings in Carriage Services by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock worth $24,135,000 after buying an additional 16,448 shares during the period. Heartland Advisors Inc. boosted its holdings in shares of Carriage Services by 7.4% in the first quarter. Heartland Advisors Inc. now owns 342,500 shares of the company’s stock worth $9,261,000 after acquiring an additional 23,454 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Carriage Services by 201.5% in the second quarter. Assenagon Asset Management S.A. now owns 229,718 shares of the company’s stock valued at $6,166,000 after purchasing an additional 153,538 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Carriage Services by 23.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 210,891 shares of the company’s stock valued at $5,274,000 after buying an additional 39,525 shares in the last quarter. Finally, Harbert Fund Advisors Inc. grew its stake in Carriage Services by 31.5% during the fourth quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock valued at $5,215,000 after acquiring an additional 50,000 shares in the last quarter. 66.46% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Lance Kian Granmayeh sold 3,282 shares of Carriage Services stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $29.31, for a total transaction of $96,195.42. Following the sale, the chief financial officer now directly owns 27,880 shares in the company, valued at $817,162.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Charles Fargason bought 2,000 shares of Carriage Services stock in a transaction dated Monday, June 10th. The stock was purchased at an average cost of $28.40 per share, with a total value of $56,800.00. Following the transaction, the director now directly owns 18,005 shares of the company’s stock, valued at $511,342. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Lance Kian Granmayeh sold 3,282 shares of Carriage Services stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $29.31, for a total transaction of $96,195.42. Following the completion of the sale, the chief financial officer now directly owns 27,880 shares in the company, valued at approximately $817,162.80. The disclosure for this sale can be found here. 12.10% of the stock is currently owned by corporate insiders.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th will be paid a $0.1125 dividend. The ex-dividend date is Monday, August 5th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.53%. Carriage Services’s payout ratio is presently 22.17%.

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.