Carriage Services (NYSE:CSV) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Carriage Services (NYSE:CSV) issued its quarterly earnings data on Tuesday. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01, MarketWatch Earnings reports. The business had revenue of $77.49 million for the quarter, compared to analyst estimates of $68.85 million. Carriage Services had a return on equity of 9.68% and a net margin of 1.35%.

Shares of CSV opened at $18.60 on Friday. The firm has a market cap of $344.41 million, a PE ratio of 88.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. Carriage Services has a 52-week low of $13.54 and a 52-week high of $28.50. The business’s 50 day moving average price is $15.18 and its two-hundred day moving average price is $21.35. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.92 and a current ratio of 1.12.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.30 dividend on an annualized basis and a yield of 1.61%. Carriage Services’s payout ratio is currently 25.00%.

In related news, VP Michael Loeffel purchased 2,250 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was purchased at an average cost of $16.22 per share, with a total value of $36,495.00. Following the completion of the purchase, the vice president now owns 14,928 shares in the company, valued at approximately $242,132.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO William Goetz acquired 5,000 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were bought at an average price of $20.50 per share, for a total transaction of $102,500.00. Following the acquisition, the chief operating officer now directly owns 15,000 shares of the company’s stock, valued at approximately $307,500. The disclosure for this purchase can be found here. Insiders have acquired a total of 16,202 shares of company stock worth $296,894 over the last 90 days. Company insiders own 11.90% of the company’s stock.

CSV has been the topic of several research reports. Zacks Investment Research upgraded Carriage Services from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Barrington Research restated an “outperform” rating and issued a $30.00 price objective (up from $25.00) on shares of Carriage Services in a report on Wednesday. Finally, Sidoti raised their price target on shares of Carriage Services from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.

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Earnings History for Carriage Services (NYSE:CSV)

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