Service Corp. International (NYSE:SCI) – Equities researchers at Oppenheimer Holdings dropped their FY2017 earnings estimates for Service Corp. International in a research note issued on Friday. Oppenheimer Holdings analyst S. Schneeberger now expects that the firm will post earnings per share of $1.38 for the year, down from their prior forecast of $1.40. Oppenheimer Holdings currently has a “Outperform” rating and a $32.00 price target on the stock.
Several other equities analysts have also commented on SCI. Zacks Investment Research lowered Service Corp. International from a “hold” rating to a “sell” rating in a research note on Tuesday. Bank of America Corp. assumed coverage on Service Corp. International in a research note on Friday, September 30th. They issued a “buy” rating and a $32.00 price target on the stock. Finally, Wells Fargo & Co. assumed coverage on Service Corp. International in a research note on Tuesday, August 2nd. They issued a “market perform” rating on the stock.
Shares of Service Corp. International (NYSE:SCI) traded up 0.68% during midday trading on Monday, reaching $26.68. The company had a trading volume of 76,020 shares. The company’s 50 day moving average price is $26.46 and its 200-day moving average price is $26.71. The company has a market capitalization of $5.17 billion, a P/E ratio of 29.09 and a beta of 0.81. Service Corp. International has a 52 week low of $20.21 and a 52 week high of $29.68.
Service Corp. International (NYSE:SCI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $766.81 million. During the same period in the previous year, the business earned $0.28 EPS. Service Corp. International’s revenue for the quarter was down .4% compared to the same quarter last year.
Several large investors have recently bought and sold shares of SCI. Vanguard Group Inc. increased its stake in Service Corp. International by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,487,825 shares of the company’s stock valued at $364,712,000 after buying an additional 479,158 shares in the last quarter. BlackRock Fund Advisors increased its stake in Service Corp. International by 2.1% in the second quarter. BlackRock Fund Advisors now owns 6,848,106 shares of the company’s stock valued at $185,173,000 after buying an additional 139,268 shares in the last quarter. Sarasin & Partners LLP increased its stake in shares of Service Corp. International by 15.3% in the third quarter. Sarasin & Partners LLP now owns 2,847,626 shares of the company’s stock valued at $75,576,000 after buying an additional 378,243 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Service Corp. International by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 1,053,101 shares of the company’s stock valued at $28,476,000 after buying an additional 49,142 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of Service Corp. International by 11.6% in the second quarter. Principal Financial Group Inc. now owns 738,345 shares of the company’s stock valued at $19,965,000 after buying an additional 76,956 shares during the period. Hedge funds and other institutional investors own 83.22% of the company’s stock.
In related news, CEO Thomas L. Ryan sold 208,444 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $27.05, for a total value of $5,638,410.20. Following the sale, the chief executive officer now owns 1,283,553 shares in the company, valued at approximately $34,720,108.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan R. Buckwalter III sold 14,944 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $27.40, for a total value of $409,465.60. Following the completion of the sale, the director now owns 109,343 shares in the company, valued at approximately $2,995,998.20. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were issued a $0.13 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. Service Corp. International’s dividend payout ratio is presently 57.14%.
About Service Corp. International
Service Corporation International is a provider of deathcare products and services, with a network of funeral service locations and cemeteries. The Company’s segments are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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