Zacks Investment Research Lowers Service Corporation International (SCI) to Hold
Zacks Investment Research cut shares of Service Corporation International (NYSE:SCI) from a buy rating to a hold rating in a research report sent to investors on Thursday.
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. “
Other equities analysts have also recently issued reports about the company. BidaskClub cut Service Corporation International from a hold rating to a sell rating in a research report on Saturday, June 10th. Oppenheimer Holdings, Inc. reiterated an outperform rating and issued a $37.00 price target (up from $34.00) on shares of Service Corporation International in a research report on Friday, July 21st. Finally, Deutsche Bank AG began coverage on Service Corporation International in a research report on Monday, May 1st. They issued a buy rating and a $40.00 price target for the company. 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 stock presently has a consensus rating of Buy and a consensus price target of $37.25.
Service Corporation International (NYSE SCI) opened at 35.51 on Thursday. The company has a 50-day moving average price of $34.68 and a 200 day moving average price of $32.31. The company has a market capitalization of $6.65 billion, a PE ratio of 19.25 and a beta of 0.93. Service Corporation International has a 12 month low of $24.90 and a 12 month high of $35.89.
Service Corporation International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $773.20 million during the quarter, compared to analysts’ expectations of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. On average, equities research analysts forecast that Service Corporation International will post $1.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, September 14th. Service Corporation International’s payout ratio is 32.43%.
In related news, CEO Thomas L. Ryan sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $31.80, for a total transaction of $3,180,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,175,109 shares in the company, valued at $37,368,466.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas L. Ryan sold 51,394 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $32.55, for a total value of $1,672,874.70. Following the transaction, the chief executive officer now owns 1,119,503 shares of the company’s stock, valued at $36,439,822.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,000 shares of company stock valued at $6,725,578. 6.20% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of SCI. 361 Capital LLC boosted its position in Service Corporation International by 22.4% in the second quarter. 361 Capital LLC now owns 184,704 shares of the company’s stock valued at $6,178,000 after buying an additional 33,748 shares during the last quarter. Green Square Capital LLC acquired a new position in Service Corporation International during the second quarter valued at approximately $262,000. State Street Corp boosted its position in Service Corporation International by 0.4% in the second quarter. State Street Corp now owns 4,961,421 shares of the company’s stock valued at $165,957,000 after buying an additional 20,669 shares during the last quarter. Flinton Capital Management LLC boosted its position in Service Corporation International by 59.4% in the second quarter. Flinton Capital Management LLC now owns 16,912 shares of the company’s stock valued at $566,000 after buying an additional 6,300 shares during the last quarter. Finally, Balyasny Asset Management LLC boosted its position 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 buying an additional 568,279 shares during the last quarter. Institutional investors and hedge funds own 86.66% of the company’s stock.
Service Corporation International Company Profile
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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