Carriage Services (NYSE:CSV) Posts Earnings Results, Misses Estimates By $0.20 EPS

Carriage Services (NYSE:CSV) issued its earnings results on Wednesday. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Price Performance

Shares of NYSE CSV traded up $1.60 during mid-day trading 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 debt-to-equity ratio of 1.92, a current ratio of 1.46 and a quick ratio of 1.29. Carriage Services has a 1 year low of $30.11 and a 1 year high of $52.10. The company’s 50-day moving average is $33.62 and its two-hundred day moving average is $39.93. The company has a market capitalization of $569.15 million, a P/E ratio of 12.85, a PEG ratio of 0.68 and a beta of 0.72.

Carriage Services Announces Dividend

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 dividend of $0.1125 per share. This represents a $0.45 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, November 2nd. Carriage Services’s dividend payout ratio is currently 16.13%.

Analysts Set New Price Targets

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

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.