Service Corporation International (SCI) Rating Lowered to Hold at Zacks Investment Research
Service Corporation International (NYSE:SCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.
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 equities analysts have also recently issued reports about the company. Deutsche Bank AG initiated coverage on Service Corporation International in a report on Monday, May 1st. They issued a “buy” rating and a $40.00 target price on the stock. BidaskClub upgraded Service Corporation International from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $37.00 price target (up previously from $34.00) on shares of Service Corporation International in a report on Friday, July 21st. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.25.
Shares of Service Corporation International (NYSE:SCI) opened at 35.51 on Thursday. Service Corporation International has a 1-year low of $24.90 and a 1-year high of $35.89. The company has a 50-day moving average of $34.68 and a 200-day moving average of $32.31. The firm has a market cap of $6.65 billion, a PE ratio of 19.25 and a beta of 0.93.
Service Corporation International (NYSE:SCI) last issued its earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $773.20 million for the quarter, compared to analysts’ expectations of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. Analysts predict that Service Corporation International will post $1.47 earnings per share for the current fiscal year.
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In other news, CEO Thomas L. Ryan sold 51,394 shares of Service Corporation International stock in a transaction on Monday, June 5th. The stock was sold at an average price of $32.55, for a total transaction of $1,672,874.70. Following the transaction, the chief executive officer now owns 1,119,503 shares in the company, valued at $36,439,822.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas L. Ryan sold 100,000 shares of Service Corporation International stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $31.80, for a total value of $3,180,000.00. Following the transaction, the chief executive officer now owns 1,175,109 shares in the company, valued at approximately $37,368,466.20. The disclosure for this sale can be found here. Insiders have sold 210,000 shares of company stock worth $6,725,578 in the last quarter. 6.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. 361 Capital LLC increased its position in shares of Service Corporation International by 22.4% in the second quarter. 361 Capital LLC now owns 184,704 shares of the company’s stock worth $6,178,000 after buying an additional 33,748 shares in the last quarter. Green Square Capital LLC purchased a new position in shares of Service Corporation International during the second quarter worth approximately $262,000. State Street Corp increased its position in shares of Service Corporation International by 0.4% in the second quarter. State Street Corp now owns 4,961,421 shares of the company’s stock worth $165,957,000 after buying an additional 20,669 shares during the period. Flinton Capital Management LLC increased its position in shares of Service Corporation International by 59.4% in the second quarter. Flinton Capital Management LLC now owns 16,912 shares of the company’s stock worth $566,000 after buying an additional 6,300 shares during the period. Finally, Balyasny Asset Management LLC increased its position in shares of Service Corporation International by 271.3% in the second quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock worth $26,016,000 after buying an additional 568,279 shares during the period. Institutional investors and hedge funds own 86.66% of the company’s stock.
About Service Corporation 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 include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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