Carriage Services (NYSE:CSV) Updates FY 2024 Earnings Guidance

30 Oct 2024, 23:52 by Danessa Lincoln · The Markets Daily

Carriage Services (NYSE:CSV – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.450-2.550 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on Carriage Services

Carriage Services Price Performance

Shares of NYSE CSV traded up $0.05 during trading on Wednesday, hitting $32.64. 60,611 shares of the company were exchanged, compared to its average volume of 105,290. The firm’s fifty day moving average price is $32.31 and its 200 day moving average price is $29.32. Carriage Services has a 1 year low of $18.06 and a 1 year high of $35.00. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.85 and a quick ratio of 0.69. The company has a market cap of $494.99 million, a price-to-earnings ratio of 16.08, a PEG ratio of 0.86 and a beta of 0.94.

Carriage Services (NYSE:CSV – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. The business had revenue of $102.32 million during the quarter, compared to analysts’ expectations of $94.40 million. Carriage Services had a net margin of 7.47% and a return on equity of 21.99%. On average, sell-side analysts expect that Carriage Services will post 2.34 earnings per share 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. Investors of record on Monday, November 4th will be paid a dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Monday, November 4th. Carriage Services’s payout ratio is 22.17%.

Insiders Place Their Bets

In related news, CEO Carlos R. Quezada purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $29.44 per share, for a total transaction of $58,880.00. Following the acquisition, the chief executive officer now directly owns 60,061 shares in the company, valued at $1,768,195.84. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Carlos R. Quezada acquired 2,000 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 60,061 shares of the company’s stock, valued at $1,768,195.84. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Shawn R. Phillips sold 7,101 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.00, for a total value of $213,030.00. Following the completion of the sale, the vice president now owns 90,700 shares of the company’s stock, valued at approximately $2,721,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.10% of the company’s stock.

Carriage Services Company Profile

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