Bank of America Corp. started coverage on shares of Service Corp. International (NYSE:SCI) in a research report sent to investors on Friday morning. The brokerage issued a buy rating and a $32.00 target price on the stock.
A number of other brokerages also recently issued reports on SCI. Zacks Investment Research downgraded shares of Service Corp. International from a hold rating to a sell rating in a report on Tuesday, July 19th. Oppenheimer Holdings Inc. increased their price target on shares of Service Corp. International from $29.00 to $32.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Finally, Wells Fargo & Co. initiated coverage on shares of Service Corp. International in a report on Tuesday, August 2nd. They issued a market perform rating on the stock.
Service Corp. International (NYSE:SCI) opened at 26.28 on Friday. The stock has a 50 day moving average of $26.52 and a 200-day moving average of $26.56. The firm has a market cap of $5.09 billion, a P/E ratio of 28.66 and a beta of 0.81. Service Corp. International has a 12 month low of $20.21 and a 12 month high of $29.68.
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 analysts’ consensus estimates of $0.29 by $0.01. Service Corp. International had a return on equity of 19.48% and a net margin of 6.13%. The firm earned $751.70 million during the quarter, compared to analysts’ expectations of $766.81 million. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts predict that Service Corp. International will post $1.24 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Thursday, September 15th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Tuesday, September 13th. Service Corp. International’s dividend payout ratio is currently 57.14%.
In other Service Corp. International news, Director Edward E. Williams sold 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $27.17, for a total transaction of $271,700.00. Following the transaction, the director now directly owns 164,917 shares in the company, valued at $4,480,794.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael R. Webb sold 93,300 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $26.03, for a total transaction of $2,428,599.00. Following the transaction, the insider now owns 514,203 shares in the company, valued at $13,384,704.09. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 during 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 acquired 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. Institutional investors and hedge funds own 83.27% of the company’s stock.
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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