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

Carriage Services (NYSE:CSV) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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.

Carriage Services Trading Up 0.2 %

NYSE CSV traded up $0.05 on Wednesday, hitting $32.64. The company’s stock had a trading volume of 60,611 shares, compared to its average volume of 105,290. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.00. The company’s 50-day moving average is $32.31 and its 200 day moving average is $29.32. The firm has a market cap of $494.99 million, a PE ratio of 16.08, a PEG ratio of 0.86 and a beta of 0.94.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.10. Carriage Services had a net margin of 7.47% and a return on equity of 21.99%. The firm had revenue of $102.32 million during the quarter, compared to analysts’ expectations of $94.40 million. As a group, analysts predict that Carriage Services will post 2.34 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Monday, November 4th. Carriage Services’s dividend payout ratio is currently 22.17%.

Analysts Set New Price Targets

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $40.00 price objective (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Insider Activity

In related news, VP Shawn R. Phillips sold 7,101 shares of the 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 directly owns 90,700 shares of the company’s stock, valued at $2,721,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Shawn R. Phillips sold 5,000 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $29.73, for a total transaction of $148,650.00. Following the transaction, the vice president now directly owns 97,801 shares of the company’s stock, valued at $2,907,623.73. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shawn R. Phillips sold 7,101 shares of the 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 transaction, the vice president now directly owns 90,700 shares in the company, valued at approximately $2,721,000. This represents 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.

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.