Service Corporation International (SCI) Announces Quarterly Dividend of $0.15
Service Corporation International (NYSE:SCI) announced a quarterly dividend on Wednesday, November 8th, RTT News reports. Investors of record on Wednesday, November 15th will be paid a dividend of 0.15 per share on Friday, December 29th. This represents a $0.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, December 14th.
Service Corporation International has increased its dividend by an average of 23.6% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Service Corporation International has a payout ratio of 40.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Service Corporation International to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 38.2%.
Shares of Service Corporation International (SCI) traded down $0.30 during mid-day trading on Thursday, reaching $35.25. 300,369 shares of the company traded hands, compared to its average volume of 1,182,660. Service Corporation International has a one year low of $25.10 and a one year high of $36.56. The stock has a market cap of $6,775.17, a P/E ratio of 23.62, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 2.66.
Service Corporation International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $731.30 million for the quarter, compared to the consensus estimate of $735.62 million. Service Corporation International had a net margin of 11.83% and a return on equity of 24.85%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. analysts anticipate that Service Corporation International will post 1.49 EPS for the current year.
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In other Service Corporation International news, VP Gregory T. Sangalis sold 72,300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $35.40, for a total transaction of $2,559,420.00. Following the sale, the vice president now owns 129,883 shares in the company, valued at approximately $4,597,858.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director W Blair Waltrip sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $35.07, for a total transaction of $70,140.00. Following the sale, the director now owns 661,409 shares in the company, valued at approximately $23,195,613.63. The disclosure for this sale can be found here. In the last three months, insiders sold 604,800 shares of company stock worth $21,109,153. 6.20% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on SCI. Zacks Investment Research raised shares of Service Corporation International from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a report on Saturday, October 28th. BidaskClub raised shares of Service Corporation International from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $39.75.
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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