Service Co. International (NYSE:SCI) Issues Quarterly Earnings Results

Service Co. International (NYSE:SCIGet Free Report) announced its earnings results on Monday. The company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02, Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Service Co. International had a return on equity of 32.58% and a net margin of 12.06%. Service Co. International’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS.

Service Co. International Stock Up 1.3 %

Shares of NYSE SCI traded up $0.90 on Monday, hitting $68.14. The company had a trading volume of 935,285 shares, compared to its average volume of 855,575. Service Co. International has a 12-month low of $52.89 and a 12-month high of $73.32. The business has a 50 day moving average of $67.61 and a two-hundred day moving average of $62.53. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 2.77. The firm has a market capitalization of $10.07 billion, a P/E ratio of 21.14, a PEG ratio of 2.62 and a beta of 0.79.

Service Co. International announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 8th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on Service Co. International

Insider Transactions at Service Co. International

In other news, CEO Thomas L. Ryan sold 112,783 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $60.82, for a total value of $6,859,462.06. Following the completion of the sale, the chief executive officer now owns 962,409 shares of the company’s stock, valued at $58,533,715.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Thomas L. Ryan sold 112,783 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $60.82, for a total value of $6,859,462.06. Following the transaction, the chief executive officer now owns 962,409 shares in the company, valued at $58,533,715.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tony Coelho sold 700 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $61.42, for a total value of $42,994.00. Following the completion of the transaction, the director now owns 69,837 shares in the company, valued at approximately $4,289,388.54. The disclosure for this sale can be found here. Insiders sold 162,809 shares of company stock valued at $9,919,708 over the last quarter. Company insiders own 5.20% of the company’s stock.

Institutional Trading of Service Co. International

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP raised its stake in Service Co. International by 282.2% during the first quarter. Quarry LP now owns 493 shares of the company’s stock valued at $34,000 after buying an additional 364 shares in the last quarter. Ancora Advisors LLC acquired a new stake in Service Co. International during the first quarter valued at approximately $44,000. Belpointe Asset Management LLC raised its stake in Service Co. International by 23.1% during the first quarter. Belpointe Asset Management LLC now owns 960 shares of the company’s stock valued at $66,000 after buying an additional 180 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Service Co. International by 26.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,373 shares of the company’s stock valued at $95,000 after purchasing an additional 284 shares during the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Service Co. International during the first quarter valued at approximately $155,000. Institutional investors and hedge funds own 84.99% of the company’s stock.

About Service Co. International

(Get Free Report)

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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Earnings History for Service Co. International (NYSE:SCI)

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