Carriage Services, Inc. to Post Q3 2024 Earnings of $0.30 Per Share, Barrington Research Forecasts (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV) – Analysts at Barrington Research lowered their Q3 2024 earnings per share (EPS) estimates for Carriage Services in a research report issued to clients and investors on Thursday, August 1st. Barrington Research analyst A. Paris now forecasts that the company will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.34. Barrington Research has a “Outperform” rating and a $38.00 price objective 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.

A number of other equities analysts have also recently weighed in on CSV. Roth Mkm restated a “buy” rating and issued a $40.00 price target (up previously from $32.00) on shares of Carriage Services in a report on Friday, August 2nd. StockNews.com downgraded shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st.

Carriage Services Price Performance

CSV stock opened at $29.36 on Monday. The firm has a market cap of $445.02 million, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.57 and a current ratio of 0.72. Carriage Services has a 1 year low of $18.06 and a 1 year high of $35.00. The stock has a 50-day simple moving average of $28.39 and a 200-day simple moving average of $26.47.

Carriage Services Dividend Announcement

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

Insider Buying and Selling at Carriage Services

In related news, SVP Shane Pudenz sold 1,443 shares of the company’s stock in a transaction 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 directly owns 13,460 shares of the company’s stock, valued at $367,458. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Shane Pudenz sold 1,443 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 13,460 shares in the company, valued at $367,458. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Fargason bought 2,000 shares of the stock in a transaction on Monday, June 10th. The shares were acquired at an average price of $28.40 per share, with a total value of $56,800.00. Following the purchase, the director now owns 18,005 shares of the company’s stock, valued at $511,342. The disclosure for this purchase can be found here. 12.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Carriage Services

Several institutional investors have recently made changes to their positions in CSV. BNP Paribas Financial Markets boosted its holdings in shares of Carriage Services by 741.8% during the first quarter. BNP Paribas Financial Markets now owns 87,879 shares of the company’s stock valued at $2,376,000 after acquiring an additional 77,439 shares during the period. GSA Capital Partners LLP grew its stake in shares of Carriage Services by 202.9% in the first quarter. GSA Capital Partners LLP now owns 51,023 shares of the company’s stock worth $1,380,000 after purchasing an additional 34,178 shares in the last quarter. Harbert Fund Advisors Inc. grew its position in Carriage Services by 31.5% in the 4th quarter. Harbert Fund Advisors Inc. now owns 208,497 shares of the company’s stock valued at $5,215,000 after buying an additional 50,000 shares in the last quarter. Heartland Advisors Inc. raised its position in shares of Carriage Services by 17.6% during the 4th quarter. Heartland Advisors Inc. now owns 319,046 shares of the company’s stock worth $7,979,000 after buying an additional 47,646 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Carriage Services in the 1st quarter worth approximately $1,517,000. 66.46% of the stock is owned by institutional investors.

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.