Service Corp. International (SCI) Lowered to Sell at Zacks Investment Research
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. “
A number of other brokerages have also issued reports on SCI. 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. Wells Fargo & Co. began 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) traded down 0.71% during mid-day trading on Wednesday, hitting $26.67. 144,405 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.16 billion, a P/E ratio of 29.08 and a beta of 0.88. The firm has a 50 day moving average of $26.62 and a 200 day moving average of $26.46. 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 announced its earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $751.70 million for the quarter, compared to the consensus estimate of $766.81 million. During the same period last year, the firm posted $0.28 EPS. The company’s revenue was down .4% compared to the same quarter last year. Equities analysts forecast 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 $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Tuesday, September 13th. Service Corp. International’s payout ratio is 57.14%.
In other news, Director W Blair Waltrip sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $27.07, for a total value of $135,350.00. Following the sale, the director now owns 701,409 shares of the company’s stock, valued at approximately $18,987,141.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael R. Webb sold 93,300 shares of the company’s stock in a transaction dated 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 directly owns 514,203 shares in the company, valued at approximately $13,384,704.09. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of SCI. Societe Generale bought a new position in shares of Service Corp. International during the second quarter valued at about $1,686,000. Oregon Public Employees Retirement Fund increased its position in shares of Service Corp. International by 19.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 77,555 shares of the company’s stock valued at $2,097,000 after buying an additional 12,838 shares during the period. IMS Capital Management increased its position in shares of Service Corp. International by 1.4% in the second quarter. IMS Capital Management now owns 43,674 shares of the company’s stock valued at $1,181,000 after buying an additional 590 shares during the period. Wedbush Securities Inc. bought a new position in shares of Service Corp. International during the second quarter valued at about $202,000. Finally, World Asset Management Inc increased its position in shares of Service Corp. International by 8.4% in the second quarter. World Asset Management Inc now owns 10,347 shares of the company’s stock valued at $280,000 after buying an additional 806 shares during the period. 83.27% of the stock is currently 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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