B. Riley weighs in on Carriage Services, Inc.’s earnings. in Q3 2024 (NYSE:CSV)

Carriage Services, Inc. (NYSE:CSV – Free Report) – B. Riley equity analysts raised their third-quarter 2024 earnings per share estimates for Carriage Services in a research note issued on Thursday, May 2. B. Riley analyst L. Burke now expects the company to post earnings of $0.49 per share for the quarter, up from the previous estimate of $0.44. The consensus estimate for Carriage Services’ current full-year earnings is $2.25 per share. B. Riley also released estimates for Carriage Services’ fourth quarter 2024 earnings of $0.50 per share, fiscal 2024 earnings of $2.27 per share and fiscal 2025 earnings of $2.32 per share .

A number of other research analysts have also weighed in on CSV. StockNews.com downgraded Carriage Services from a “buy” rating to a “hold” rating in a report on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $38.00 price target on shares of Carriage Services in a report on Thursday. Finally, Roth Mkm reissued a Buy rating and set a $32.00 price target (up from $31.00) on shares of Carriage Services in a research report on Friday.

View our latest stock analysis on transportation services

Transportation Services Inventory Performance

Shares of CSV stock opened at $26.00 on Friday. The company has a fifty-day moving average of $25.40 and a 200-day moving average of $24.34. Carriage Services has a 1-year low of $18.06 and a 1-year high of $35.59. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.82 and a quick ratio of 0.65. The company has a market cap of $393.64 million, a price-to-earnings ratio of 12.81, a price-to-earnings growth ratio of 0.76, and a beta of 0.87.

Carriage Services (NYSE:CSV – Get Free Report) posted its latest quarterly results on Wednesday, May 1. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.16. The company had revenue of $103.49 million during the quarter, compared to analyst expectations of $98.17 million. Carriage Services had a net margin of 8.08% and a return on equity of 22.58%. In the same quarter last year, the company posted earnings per share of $0.56.

Carriage Services announces dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3. Shareholders of record on Monday, May 6 will receive a dividend of $0.1125 per share. This represents a dividend of $0.45 annually and a yield of 1.73%. The ex-dividend date is Friday, May 3. Carriage Services’ dividend payout ratio currently stands at 22.17%.

Buying and selling with insider information at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 6,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock sold at an average price of $25.87, for a total value of $168,155.00. Following the completion of the transaction, the Vice President now directly owns 38,178 shares of the company’s stock, valued at $987,664.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carriage Services news, President Charles Fargason purchased 6,000 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average cost of $25.58 per share, for a total transaction of $153,480.00. Following the transaction, the director now directly owns 14,640 shares of the company’s stock, valued at $374,491.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice President Paul Donald Elliott sold 6,500 shares of Carriage Services stock in a transaction dated Wednesday, March 20. The shares sold at an average price of $25.87, for a total value of $168,155.00. Following the completion of the transaction, the Vice President now owns 38,178 shares of the company’s stock, valued at approximately $987,664.86. The explanation of this sale can be found here. Last quarter, insiders sold 14,372 company shares worth $369,521. Insiders own 12.10% of the company’s shares.

Institutional trading in transport services

Institutional investors have recently been buying and selling shares of the company. FinTrust Capital Advisors LLC acquired a new position in shares of Carriage Services during the first quarter valued at approximately $27,000. Parallel Advisors LLC purchased a new position in Carriage Services during the fourth quarter valued at $38,000. Tower Research Capital LLC TRC increased its holdings in Carriage Services by 32.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock valued at $92,000 after purchasing an additional 897 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Carriage Services by 89.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,907 shares of the company’s stock valued at $110,000 after purchasing an additional 1,848 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Carriage Services in the fourth quarter worth approximately $154,000. 66.46% of the shares are held by institutional investors and hedge funds.

About transportation services

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Carriage Services, Inc provides funeral and cemetery services and merchandise throughout the United States. It operates in two segments: Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consulting 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 items.

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