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 note issued on Saturday.
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. “
Several other brokerages also recently weighed in on SCI. BidaskClub raised Service Corporation International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $37.00 price target (up from $34.00) on shares of Service Corporation International in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Service Corporation International has a consensus rating of “Buy” and a consensus price target of $37.00.
Service Corporation International (NYSE:SCI) opened at 34.70 on Friday. The company has a 50 day moving average of $34.99 and a 200 day moving average of $32.62. The firm has a market capitalization of $6.50 billion, a PE ratio of 18.81 and a beta of 0.93. Service Corporation International has a 1-year low of $24.90 and a 1-year high of $35.89.
Service Corporation International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $769.57 million. During the same period last year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts forecast that Service Corporation International will post $1.47 EPS for the current year.
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In other Service Corporation International news, CFO Eric D. Tanzberger sold 187,100 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $34.93, for a total value of $6,535,403.00. Following the completion of the sale, the chief financial officer now owns 150,217 shares of the company’s stock, valued at $5,247,079.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 48,606 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.92, for a total value of $1,551,503.52. Following the completion of the sale, the chief executive officer now directly owns 1,123,715 shares of the company’s stock, valued at approximately $35,868,982.80. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in SCI. BlackRock Inc. lifted its holdings in Service Corporation International by 13,931.4% in the first quarter. BlackRock Inc. now owns 16,407,111 shares of the company’s stock valued at $506,652,000 after acquiring an additional 16,290,180 shares during the period. Morgan Stanley lifted its holdings in Service Corporation International by 385.2% in the first quarter. Morgan Stanley now owns 2,869,347 shares of the company’s stock valued at $88,606,000 after acquiring an additional 2,277,979 shares during the period. Renaissance Technologies LLC acquired a new stake in Service Corporation International in the first quarter valued at $37,427,000. Vanguard Group Inc. lifted its holdings in Service Corporation International by 4.1% in the first quarter. Vanguard Group Inc. now owns 14,875,922 shares of the company’s stock valued at $459,368,000 after acquiring an additional 583,346 shares during the period. Finally, Balyasny Asset Management LLC lifted its holdings in Service Corporation International by 271.3% in the second quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock valued at $26,016,000 after acquiring an additional 568,279 shares during the period. 84.83% of the stock is owned by institutional investors.
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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