Service Co. International (NYSE:SCI) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Service Co. International (NYSE:SCI) posted its quarterly earnings results on Wednesday. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04, Briefing.com reports. Service Co. International had a return on equity of 32.88% and a net margin of 13.11%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Service Co. International’s revenue was up 1.6% on a year-over-year basis. Service Co. International updated its FY24 guidance to $3.50-3.80 EPS and its FY 2024 guidance to 3.500-3.800 EPS.

Service Co. International Stock Performance

NYSE SCI opened at $71.40 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 3.02. The company has a fifty day simple moving average of $72.36 and a 200 day simple moving average of $67.09. The company has a market cap of $10.46 billion, a P/E ratio of 20.28, a PEG ratio of 1.94 and a beta of 0.81. Service Co. International has a 12-month low of $52.89 and a 12-month high of $75.97.

Service Co. International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This is an increase from Service Co. International’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Thursday, March 14th. Service Co. International’s payout ratio is 32.95%.

Insider Buying and Selling

In other Service Co. International news, Director Tony Coelho sold 8,950 shares of Service Co. International stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $75.39, for a total transaction of $674,740.50. Following the transaction, the director now directly owns 60,887 shares of the company’s stock, valued at approximately $4,590,270.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas L. Ryan sold 75,000 shares of Service Co. International stock in a transaction on Monday, March 4th. The stock was sold at an average price of $73.53, for a total value of $5,514,750.00. Following the completion of the transaction, the chief executive officer now directly owns 988,365 shares in the company, valued at $72,674,478.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Tony Coelho sold 8,950 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $75.39, for a total transaction of $674,740.50. Following the sale, the director now directly owns 60,887 shares in the company, valued at approximately $4,590,270.93. The disclosure for this sale can be found here. Insiders have sold 202,675 shares of company stock worth $15,066,906 in the last quarter. Insiders own 5.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on SCI. Oppenheimer upped their price target on shares of Service Co. International from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. UBS Group upped their price target on Service Co. International from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Service Co. International presently has an average rating of “Moderate Buy” and a consensus target price of $75.00.

About Service Co. International

Service Corporation International provides deathcare products and services in the United States and Canada. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses. The company also provides professional services related to funerals and cremations, including the use of funeral home facilities and motor vehicles; arranging and directing services; and removal, preparation, embalming, cremation, memorialization, and travel protection, as well as catering services.