A Look At How Carriage Services, Inc. (CSV) Reacted To Earnings Over The Past Year

2 days have passed by since the last earnings report for Carriage Services, Inc. (NYSE:CSV) and the new quarterly results look set to arrive in 105 days. The shares of CSV at the moment are trading at a volume of 0.56 million, which compares with its normal daily standard volume of 91.36 million shares. This has led to the shares of the company advancing by 16.59%, currently exchanging hands at $26.56 a share. CSV stock has been up by $0.14 (15.73%) ever since it reached its 52-week high of $26.7 back in October 29, 2019. It has progressed above its 50-day moving average of $21.54 and is up 24.17% over the past week. The stock has retreated 0% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the CSV share price due for a breakout?

Carriage Services, Inc. (CSV) Forecasts And Latest Quarter Earnings

Ahead of their fiscal fourth-quarter to be released on Wednesday, Feb 12, 2020, 2 analysts who are covering the company are estimating that it will record a profit of $0.36 per share, with analysts having different outlooks from $0.35 to $0.38. The current agreed outlook, when compared to the profit recorded last year, is at $0.23 a share, thus an increase of 56.52% is expected. The profit view for a complete financial year for Carriage Services, Inc. is expected to be around $1.36 in current year, a decline of nearly 16.24% from last year which was $1.17.

Let’s now look at their sales section, CSV’s revenue is estimated to be $66.52M, a figure which is more than the $66.52M recorded for Q4 last year. Their sequential sales though are expected to move versus Q3’s $67.74B. Their full-year outlook is pegged at $270.73M, implying that there would be an increase of 1.02% over the $267.99M they recorded last year in revenue. Carriage Services, Inc. is projected to get sales lifted by 3.91% in the next quarter, with a revenue target of $281.32M.

Analyzing The Earnings History Of Carriage Services, Inc. (NYSE:CSV)

In the past few years, the CSV stock has been known to miss the Wall Street’s earnings projection. The company missed 91% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 0 times. Looking at the past trend, the price of Carriage Services, Inc. shares had sank following the release of their earnings in 19 of the last 39 quarters.

The higher number of analysts has assigned a buy or better ratings (2) on the Carriage Services, Inc. stock, while 0 of them have a rating of a Hold with the 11-year target price suggested by the analysts standing at $27.5. This price target implies potential upside of 3.54 percent over the next 12 months based on the current share price.

Carriage Services, Inc. (CSV) Post Earnings Announcement Drift (PEAD)

Back on October 28, 2019, Carriage Services, Inc. (NYSE:CSV) released its Q3 results, in which it recorded EPS of $0.28 that fell short of consensus estimates of $0.3.

On July 31, 2019, the Q2 earnings report was disclosed with EPS of $0.31. This was same as the estimation of $0.31 per share. The stock price range of CSV was between $19.86 and $22.94 on the first-day post announcement, after opening the day at $19.75. The session came to close at $22.34 and there was a total volume of 151432 shares.

May 01, 2019 was the day when its Q1 results were unveiled. The earnings came in at $0.38, missing the projected $0.39 per share. The very next day, CSV stock opened at $16.58 while staying in a range of $16.85 to $17.94. At the end, it moved to $17.77 a total volume of shares been 280053.

In the year-ago Q4 earnings on February 20, 2019, the company saw profit per share of $0.23. That was better than the $0.19 analysts had expected. Carriage Services, Inc. share price started at $19.53 on the first full trading day post-earning and then exchanged hands between $19.74 and $20.79 throughout the session. The closing price of $20.19 came on the back of 167021 shares in volume.