Carriage Services, Inc. (NYSE:CSV) Expected to Announce Earnings of $0.59 Per Share

Wall Street brokerages expect Carriage Services, Inc. (NYSE:CSV) to announce earnings of $0.59 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Carriage Services’ earnings. The lowest EPS estimate is $0.57 and the highest is $0.60. Carriage Services reported earnings per share of $0.51 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.7%. The company is expected to issue its next earnings results on Tuesday, October 26th.

According to Zacks, analysts expect that Carriage Services will report full-year earnings of $2.66 per share for the current year, with EPS estimates ranging from $2.61 to $2.70. For the next financial year, analysts forecast that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.68 to $3.15. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Carriage Services.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Monday, July 26th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.15. Carriage Services had a net margin of 5.75% and a return on equity of 19.26%. The company had revenue of $88.28 million during the quarter, compared to the consensus estimate of $81.29 million.

CSV has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 28th. Roth Capital lifted their price target on shares of Carriage Services from $48.00 to $52.00 and gave the stock a “below average” rating in a research note on Thursday, July 29th. B. Riley lifted their price target on shares of Carriage Services from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, September 16th. Finally, TheStreet raised shares of Carriage Services from a “c+” rating to a “b-” rating in a report on Friday, August 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Carriage Services has a consensus rating of “Hold” and a consensus price target of $48.75.

In other news, VP Paul Donald Elliott sold 5,119 shares of Carriage Services stock in a transaction on Friday, August 6th. The shares were sold at an average price of $37.05, for a total value of $189,658.95. Following the transaction, the vice president now directly owns 44,156 shares of the company’s stock, valued at approximately $1,635,979.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven D. Metzger bought 1,000 shares of the business’s stock in a transaction dated Monday, August 9th. The stock was acquired at an average cost of $36.98 per share, for a total transaction of $36,980.00. The disclosure for this purchase can be found here. 11.30% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its position in Carriage Services by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 4,016 shares of the company’s stock valued at $148,000 after buying an additional 291 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Carriage Services by 3.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,599 shares of the company’s stock valued at $318,000 after buying an additional 316 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in Carriage Services by 1.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 33,200 shares of the company’s stock valued at $1,227,000 after buying an additional 420 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Carriage Services by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,292 shares of the company’s stock valued at $380,000 after buying an additional 726 shares during the last quarter. Finally, Boston Partners grew its position in Carriage Services by 0.5% in the 2nd quarter. Boston Partners now owns 144,687 shares of the company’s stock valued at $5,349,000 after buying an additional 747 shares during the last quarter. 74.54% of the stock is currently owned by institutional investors and hedge funds.

Carriage Services stock traded up $0.16 during trading on Friday, reaching $45.41. The stock had a trading volume of 277 shares, compared to its average volume of 104,428. Carriage Services has a 52-week low of $22.98 and a 52-week high of $48.61. The business has a 50 day moving average price of $43.66 and a 200 day moving average price of $39.25. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.72. The stock has a market cap of $809.48 million, a PE ratio of 39.35, a P/E/G ratio of 1.16 and a beta of 0.85.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Monday, August 9th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, August 6th. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. Carriage Services’s payout ratio is currently 21.51%.

About Carriage Services

Carriage Services, Inc engages in the provision of funeral and cemetery services. It operates through the Funeral Home and Cemetery segments. The Funeral Home segment offers a complete suite of services to meet families’ funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral homes for visitation and remembrance services and transportation services.

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