Equities Analysts Issue Forecasts for Carriage Services, Inc.’s Q3 2024 Earnings (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Equities researchers at Barrington Research reduced their Q3 2024 EPS estimates for shares of Carriage Services in a research report issued on Thursday, August 1st. Barrington Research analyst A. Paris now anticipates that the company will earn $0.30 per share for the quarter, down from their prior forecast of $0.34. Barrington Research currently has a “Outperform” rating and a $38.00 target price on the stock. The consensus estimate for Carriage Services’ current full-year earnings is $2.35 per share. Barrington Research also issued estimates for Carriage Services’ Q4 2024 earnings at $0.66 EPS, FY2024 earnings at $2.35 EPS and FY2025 earnings at $2.55 EPS.

Several other brokerages have also issued reports on CSV. Roth Mkm reiterated a “buy” rating and set a $40.00 target price (up from $32.00) on shares of Carriage Services in a research report on Friday, August 2nd. StockNews.com cut shares of Carriage Services from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

Carriage Services Stock Performance

Shares of CSV stock opened at $29.36 on Monday. The firm’s 50 day moving average is $28.39 and its 200 day moving average is $26.47. The company has a current ratio of 0.72, a quick ratio of 0.57 and a debt-to-equity ratio of 2.24. Carriage Services has a 12 month low of $18.06 and a 12 month high of $35.00. The stock has a market capitalization of $445.02 million, a P/E ratio of 14.46, a PEG ratio of 0.92 and a beta of 0.92.

Institutional Trading of Carriage Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Carriage Services by 2.0% during the third quarter. Vanguard Group Inc. now owns 854,339 shares of the company’s stock worth $24,135,000 after acquiring an additional 16,448 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Carriage Services in the 4th quarter worth approximately $272,000. Linden Thomas Advisory Services LLC increased its position in Carriage Services by 21.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 9,479 shares of the company’s stock valued at $237,000 after buying an additional 1,675 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Carriage Services by 23.1% during the fourth 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 during the last quarter. Finally, Versor Investments LP purchased a new position in Carriage Services during the fourth quarter valued at $327,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carriage Services news, SVP Shane Pudenz sold 1,443 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $27.30, for a total transaction of $39,393.90. Following the completion of the transaction, the senior vice president now owns 13,460 shares of the company’s stock, valued at approximately $367,458. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Charles Fargason acquired 2,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were acquired at an average cost of $28.40 per share, with a total value of $56,800.00. Following the transaction, the director now owns 18,005 shares in the company, valued at approximately $511,342. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Shane Pudenz sold 1,443 shares of Carriage Services stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $27.30, for a total value of $39,393.90. Following the sale, the senior vice president now owns 13,460 shares in the company, valued at $367,458. The disclosure for this sale can be found here. 12.10% of the stock is owned by insiders.

Carriage Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th will be given a $0.1125 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $0.45 annualized dividend and a yield of 1.53%. Carriage Services’s payout ratio is currently 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.