Service Co. International (NYSE:SCI) Issues FY24 Earnings Guidance

Service Co. International (NYSE:SCIGet Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.50-3.80 for the period, compared to the consensus estimate of $3.61.

Service Co. International Stock Performance

SCI traded up $0.90 during trading on Monday, reaching $68.14. 935,553 shares of the company were exchanged, compared to its average volume of 849,024. The stock has a market cap of $10.07 billion, a P/E ratio of 21.14, a PEG ratio of 2.62 and a beta of 0.79. The firm has a 50 day moving average of $67.61 and a 200 day moving average of $62.53. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 2.77. Service Co. International has a 52 week low of $52.89 and a 52 week high of $73.32.

Service Co. International declared that its Board of Directors has approved a share buyback program on Wednesday, November 8th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, UBS Group began coverage on Service Co. International in a research report on Thursday, November 30th. They set a buy rating and a $72.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Service Co. International has an average rating of Moderate Buy and a consensus target price of $71.40.

Read Our Latest Stock Report on SCI

Insider Activity

In related news, CEO Thomas L. Ryan sold 112,783 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $60.82, for a total transaction of $6,859,462.06. Following the completion of the sale, the chief executive officer now owns 962,409 shares in the company, valued at approximately $58,533,715.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Thomas L. Ryan sold 112,783 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $60.82, for a total transaction of $6,859,462.06. Following the completion of the sale, the chief executive officer now owns 962,409 shares in the company, valued at approximately $58,533,715.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas L. Ryan sold 3,066 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $60.80, for a total value of $186,412.80. Following the sale, the chief executive officer now owns 962,409 shares of the company’s stock, valued at approximately $58,514,467.20. The disclosure for this sale can be found here. Insiders sold a total of 162,809 shares of company stock valued at $9,919,708 over the last three months. Insiders own 5.20% of the company’s stock.

Institutional Trading of Service Co. International

A number of hedge funds have recently modified their holdings of SCI. Price T Rowe Associates Inc. MD raised its holdings in shares of Service Co. International by 1,032.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,097,682 shares of the company’s stock worth $213,060,000 after buying an additional 2,824,050 shares in the last quarter. Morgan Stanley boosted its position in shares of Service Co. International by 134.8% in the 4th quarter. Morgan Stanley now owns 3,458,834 shares of the company’s stock worth $239,144,000 after purchasing an additional 1,985,847 shares during the last quarter. Norges Bank bought a new position in shares of Service Co. International in the 4th quarter worth $87,387,000. Select Equity Group L.P. lifted its holdings in Service Co. International by 12.1% during the fourth quarter. Select Equity Group L.P. now owns 8,379,769 shares of the company’s stock worth $579,377,000 after acquiring an additional 905,919 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Service Co. International by 23.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,348,183 shares of the company’s stock worth $162,353,000 after acquiring an additional 448,311 shares in the last quarter. Institutional investors own 84.99% of the company’s stock.

About Service Co. International

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Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.

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