Carriage Services (CSV) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Carriage Services (NYSE:CSV) announced its quarterly earnings results on Wednesday. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01), Briefing.com reports. The company had revenue of $65.10 million for the quarter, compared to analysts’ expectations of $65.34 million. Carriage Services had a net margin of 7.29% and a return on equity of 13.54%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. Carriage Services updated its FY18 guidance to $2.00-$2.05 EPS.

Shares of Carriage Services (CSV) traded down $0.09 during mid-day trading on Wednesday, reaching $25.43. The company had a trading volume of 81,419 shares, compared to its average volume of 131,739. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.54 and a current ratio of 0.70. The stock has a market capitalization of $411.00, a PE ratio of 24.93, a P/E/G ratio of 0.95 and a beta of 0.82. Carriage Services has a 52 week low of $23.15 and a 52 week high of $28.96.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 9th. Carriage Services’s dividend payout ratio is currently 29.41%.

In related news, COO Mark R. Bruce sold 3,000 shares of Carriage Services stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.40, for a total transaction of $79,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 4,241 shares of company stock valued at $111,354. 13.40% of the stock is owned by company insiders.

Carriage Services declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $15.00 million in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Separately, Zacks Investment Research cut Carriage Services from a “hold” rating to a “sell” rating in a research report on Thursday, February 8th.

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Carriage Services Company Profile

Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.

Earnings History for Carriage Services (NYSE:CSV)

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