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. “
Several other equities research analysts also recently issued reports on SCI. Oppenheimer Holdings Inc. raised their price target on Service Corp. International from $29.00 to $32.00 and gave the company an outperform rating in a report on Thursday, July 28th. Wells Fargo & Co. initiated coverage on Service Corp. International in a report on Tuesday, August 2nd. They set a market perform rating for the company.
Shares of Service Corp. International (NYSE:SCI) traded down 0.71% on Wednesday, reaching $26.67. 144,405 shares of the company traded hands. Service Corp. International has a one year low of $20.21 and a one year high of $29.68. The firm’s 50 day moving average is $26.62 and its 200 day moving average is $26.46. The company has a market capitalization of $5.16 billion, a P/E ratio of 29.08 and a beta of 0.88.
Service Corp. International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $751.70 million for the quarter, compared to analyst estimates of $766.81 million. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts expect that Service Corp. International will post $1.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, September 13th. Service Corp. International’s dividend payout ratio is currently 57.14%.
In other news, insider Michael R. Webb sold 93,300 shares of Service Corp. International stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $26.03, for a total transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 208,444 shares of Service Corp. International 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 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. Insiders own 6.00% of the company’s stock.
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 worth $364,712,000 after buying an additional 479,158 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Service Corp. International by 2.1% in the second quarter. BlackRock Fund Advisors now owns 6,848,106 shares of the company’s stock worth $185,173,000 after buying an additional 139,268 shares during the last quarter. Norges Bank bought a new position in shares of Service Corp. International during the fourth quarter worth approximately $40,514,000. Ameriprise Financial Inc. boosted its position 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 worth $28,476,000 after buying an additional 49,142 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position 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 worth $19,965,000 after buying an additional 76,956 shares during the last quarter. 83.27% of the stock is owned by institutional investors.
Service Corp. International Company Profile
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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