Carriage Services (NYSE:CSV) Issues Quarterly Earnings Results

Carriage Services (NYSE:CSV) announced its quarterly earnings results on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.20), FiscalAI reports. Carriage Services had a return on equity of 19.23% and a net margin of 10.69%.

Carriage Services Stock Up 4.7%

Shares of CSV stock traded up $1.60 during trading hours on Wednesday, hitting $35.86. 376,192 shares of the company’s stock traded hands, compared to its average volume of 265,458. 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 stock has a market cap of $569.15 million, a price-to-earnings ratio of 12.85, a PEG ratio of 0.68 and a beta of 0.72. The stock’s fifty day simple moving average is $33.62 and its two-hundred day simple moving average is $39.93. Carriage Services has a 12-month low of $30.11 and a 12-month high of $52.10.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 2nd will be given a $0.1125 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.3%. Carriage Services’s dividend payout ratio is currently 16.13%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CSV shares. Zacks Research cut Carriage Services from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Oppenheimer assumed coverage on shares of Carriage Services in a report on Thursday, August 13th. They issued an “outperform” rating and a $48.00 price objective for the company. Roth Capital set a $42.00 price objective on shares of Carriage Services in a research note on Friday, October 2nd. Raymond James Financial set a $50.00 price target on shares of Carriage Services in a research note on Friday, August 7th. Finally, Weiss Ratings cut Carriage Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Carriage Services has a consensus rating of “Hold” and a consensus target price of $50.00.

About Carriage Services

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.