Service Corp. International (SCI) Earns Buy Rating from Analysts at Bank of America Corp.
Equities researchers at Bank of America Corp. assumed coverage on shares of Service Corp. International (NYSE:SCI) in a report issued on Friday. The brokerage set a “buy” rating on the stock.
Other analysts have also issued research reports about the company. Zacks Investment Research raised Service Corp. International from a “sell” rating to a “hold” rating in a research note on Saturday, July 30th. Wells Fargo & Co. initiated coverage on Service Corp. International in a research note on Tuesday, August 2nd. They set a “market perform” rating on the stock. Finally, Oppenheimer Holdings Inc. increased their price objective on Service Corp. International from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th.
Shares of Service Corp. International (NYSE:SCI) opened at 26.31 on Friday. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of 28.69 and a beta of 0.88. The company has a 50-day moving average of $26.61 and a 200 day moving average of $26.46. Service Corp. International has a one year low of $20.21 and a one year high of $29.68.
Service Corp. International (NYSE:SCI) last posted its earnings results on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.01. The firm earned $751.70 million during the quarter, compared to analyst estimates of $766.81 million. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Equities research analysts forecast that Service Corp. International will post $1.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be 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 of this dividend is Tuesday, September 13th. Service Corp. International’s payout ratio is 57.14%.
In other news, insider Michael R. Webb sold 93,300 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $26.03, for a total value of $2,428,599.00. Following the transaction, the insider now directly owns 514,203 shares in the company, valued at approximately $13,384,704.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alan R. Buckwalter III sold 14,944 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $27.40, for a total value of $409,465.60. Following the completion of the transaction, the director now owns 109,343 shares in the company, valued at $2,995,998.20. The disclosure for this sale can be found here. 6.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new position in Service Corp. International during the second quarter worth approximately $124,000. IFP Advisors Inc increased its position in Service Corp. International by 6.0% in the first quarter. IFP Advisors Inc now owns 5,767 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Wedbush Securities Inc. purchased a new position in Service Corp. International during the second quarter worth approximately $202,000. Nomura Holdings Inc. purchased a new position in Service Corp. International during the second quarter worth approximately $205,000. Finally, Wright Investors Service Inc. purchased a new position in Service Corp. International during the second quarter worth approximately $233,000. Institutional investors own 83.27% of the company’s stock.
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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