According to Zacks, “Service Corp. is the largest provider of funeral and cemetery services in the world. The funeral and cemetery operations consist of the Company’s funeral service locations, cemeteries and related businesses. The financial services operations represent a combination of the Company’s insurance operations primarily related to the funding of prearranged funeral contracts and a lending subsidiary, which previously provided capital financing for independent funeral home and cemetery operations. “
Other research analysts have also recently issued reports about the stock. Bank of America Corp. started coverage on shares of Service Corp. International in a research report on Friday, September 30th. They set a buy rating and a $32.00 target price on the stock. Oppenheimer Holdings Inc. boosted their target price on shares of Service Corp. International from $29.00 to $32.00 and gave the stock an outperform rating in a research report on Thursday, July 28th. Finally, Wells Fargo & Co. started coverage on shares of Service Corp. International in a research note on Tuesday, August 2nd. They issued a market perform rating for the company.
Service Corp. International (NYSE:SCI) traded down 0.23% during trading on Tuesday, reaching $26.47. 93,983 shares of the company were exchanged. Service Corp. International has a 12 month low of $20.21 and a 12 month high of $29.68. The firm has a market capitalization of $5.13 billion, a PE ratio of 28.87 and a beta of 0.81. The stock has a 50 day moving average price of $26.46 and a 200 day moving average price of $26.72.
Service Corp. International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The firm had revenue of $751.70 million for the quarter, compared to analysts’ expectations of $766.81 million. Service Corp. International had a return on equity of 19.48% and a net margin of 6.13%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, analysts expect that Service Corp. International will post $1.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a dividend of $0.13 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.52 annualized dividend and a yield of 1.96%. Service Corp. International’s payout ratio is 57.14%.
In related news, insider Michael R. Webb sold 93,300 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $26.03, for a total value of $2,428,599.00. Following the completion of the sale, the insider now owns 514,203 shares of the company’s stock, valued at $13,384,704.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 208,444 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $27.05, for a total transaction of $5,638,410.20. Following the completion of the sale, the chief executive officer now directly owns 1,283,553 shares of the company’s stock, valued at approximately $34,720,108.65. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
A number of large investors have recently bought and sold shares of SCI. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Service Corp. International during the second quarter worth $124,000. Wedbush Securities Inc. acquired a new stake in shares of Service Corp. International during the second quarter worth $202,000. Nomura Holdings Inc. acquired a new stake in shares of Service Corp. International during the second quarter worth $205,000. Wright Investors Service Inc. acquired a new stake in shares of Service Corp. International during the second quarter worth $233,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Service Corp. International during the second quarter worth $275,000. 83.22% of the stock is owned by institutional investors and hedge funds.
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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