Zacks: Analysts Expect Service Corporation International (SCI) Will Post Quarterly Sales of $740.26 Million
Wall Street analysts forecast that Service Corporation International (NYSE:SCI) will report sales of $740.26 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Service Corporation International’s earnings, with estimates ranging from $738.00 million to $743.70 million. Service Corporation International reported sales of $721.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is scheduled to report its next earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Service Corporation International will report full-year sales of $740.26 million for the current year, with estimates ranging from $3.11 billion to $3.12 billion. For the next year, analysts expect that the company will post sales of $3.23 billion per share, with estimates ranging from $3.21 billion to $3.24 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Service Corporation International.
Service Corporation International (NYSE:SCI) last posted its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $773.20 million during the quarter, compared to the consensus estimate of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. Service Corporation International’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Service Corporation International from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Friday, September 1st. BidaskClub raised shares of Service Corporation International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $37.00 target price (up previously from $34.00) on shares of Service Corporation International in a research report on Friday, July 21st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.00.
In other Service Corporation International news, CEO Thomas L. Ryan sold 48,606 shares of Service Corporation International stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.92, for a total transaction of $1,551,503.52. Following the transaction, the chief executive officer now owns 1,123,715 shares of the company’s stock, valued at approximately $35,868,982.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.20% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of SCI. Acrospire Investment Management LLC raised its holdings in shares of Service Corporation International by 315.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after purchasing an additional 2,800 shares during the period. IFP Advisors Inc raised its holdings in shares of Service Corporation International by 2.1% in the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after purchasing an additional 89 shares during the period. Founders Capital Management bought a new stake in shares of Service Corporation International in the 1st quarter worth approximately $185,000. Glen Harbor Capital Management LLC raised its holdings in shares of Service Corporation International by 11.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock worth $187,000 after purchasing an additional 608 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Service Corporation International in the 1st quarter worth approximately $200,000. 84.83% of the stock is currently owned by hedge funds and other institutional investors.
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Service Corporation International (SCI) opened at 34.70 on Thursday. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89. The company has a market cap of $6.50 billion, a P/E ratio of 18.81 and a beta of 0.93. The company’s 50 day moving average price is $34.96 and its 200 day moving average price is $32.58.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 1.73%. Service Corporation International’s dividend payout ratio is currently 32.43%.
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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