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 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 Performance

Shares of NYSE:CSV opened at $32.64 on Thursday. The business has a fifty day moving average of $32.31 and a 200-day moving average of $29.32. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.69 and a current ratio of 0.85. Carriage Services has a twelve month low of $18.06 and a twelve month high of $35.00. The firm has a market cap of $494.99 million, a PE ratio of 16.08, a price-to-earnings-growth ratio of 0.86 and a beta of 0.94.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.63 earnings per share 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. On average, equities research analysts predict that Carriage Services will post 2.34 EPS for the current fiscal year.

Carriage Services Announces Dividend

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

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and set a $40.00 target price (up previously from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd.

Insider Activity

In other Carriage Services news, CEO Carlos R. Quezada purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average cost of $29.44 per share, with a total value of $58,880.00. Following the completion of the purchase, the chief executive officer now directly owns 60,061 shares in the company, valued at approximately $1,768,195.84. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Shawn R. Phillips sold 7,101 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.00, for a total value of $213,030.00. Following the transaction, the vice president now directly owns 90,700 shares in the company, valued at $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 is available at this link. Also, CEO Carlos R. Quezada acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $29.44 per share, with a total value of $58,880.00. Following the completion of the purchase, the chief executive officer now owns 60,061 shares of the company’s stock, valued at $1,768,195.84. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase 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.