Carriage Services (NYSE:CSV) Announces Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Carriage Services (NYSE:CSV) announced its quarterly earnings data on Wednesday. The company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.20), FiscalAI reports. The business had revenue of $100.26 million for the quarter, compared to analyst estimates of $109.47 million. Carriage Services had a return on equity of 17.81% and a net margin of 11.31%.

Carriage Services Stock Down 4.8%

Shares of NYSE:CSV traded down $1.35 during midday trading on Friday, reaching $26.86. The company had a trading volume of 345,165 shares, compared to its average volume of 144,918. Carriage Services has a 1-year low of $26.28 and a 1-year high of $52.10. The stock has a market cap of $426.19 million, a PE ratio of 9.15, a P/E/G ratio of 0.72 and a beta of 0.72. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 1.92. The business’s 50 day moving average price is $33.49 and its 200 day moving average price is $39.85.

Carriage Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 2nd will be paid a $0.1125 dividend. The ex-dividend date is Monday, November 2nd. This represents a $0.45 annualized dividend and a yield of 1.7%. Carriage Services’s payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

CSV has been the topic of several research analyst reports. The Goldman Sachs Group set a $56.00 price objective on shares of Carriage Services in a research note on Friday. UBS Group set a $56.00 target price on shares of Carriage Services in a research note on Friday. Zacks Research downgraded shares of Carriage Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Roth Capital set a $42.00 price target on shares of Carriage Services in a research report on Friday, October 2nd. Finally, Raymond James Financial set a $50.00 price target on shares of Carriage Services in a research report on Friday, August 7th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.57.

Carriage Services Company Profile

Carriage Services, Inc is a provider of funeral and cemetery services in the United States. The company operates funeral homes and cemeteries that serve families through arrangements for traditional funerals, cremation services, memorial ceremonies and related merchandise.

Its cemetery operations provide interment and memorialization services, including burial plots, mausoleums, cremation niches and other cemetery products. Carriage Services also offers advance-planning and prearrangement services, allowing individuals and families to make funeral and cemetery arrangements before they are needed.

Founded in 1991 and headquartered in Houston, Texas, Carriage Services operates through a network of funeral homes and cemeteries across multiple U.S.