Service Corp. International (NYSE:SCI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
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 stock. Oppenheimer Holdings Inc. upped their price objective on shares of Service Corp. International from $29.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Wells Fargo & Co. started coverage on shares of Service Corp. International in a research report on Tuesday, August 2nd. They issued a “market perform” rating for the company.
Shares of Service Corp. International (NYSE:SCI) opened at 26.73 on Wednesday. The company has a market capitalization of $5.18 billion, a P/E ratio of 29.15 and a beta of 0.88. The firm has a 50-day moving average of $26.62 and a 200-day moving average of $26.45. Service Corp. International has a one year low of $20.21 and a one year high of $29.68.
Service Corp. International (NYSE:SCI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The company had revenue of $751.70 million for the quarter, compared to analyst estimates of $766.81 million. Service Corp. International had a return on equity of 19.48% and a net margin of 6.13%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. Analysts forecast that Service Corp. International will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, September 13th. Service Corp. International’s dividend payout ratio (DPR) is 57.14%.
In other news, Director Edward E. Williams sold 10,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $27.17, for a total value of $271,700.00. Following the completion of the sale, the director now directly owns 164,917 shares in the company, valued at $4,480,794.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael R. Webb sold 93,300 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $26.03, for a total transaction of $2,428,599.00. Following the completion of the sale, the insider now owns 514,203 shares of the company’s stock, valued at $13,384,704.09. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Service Corp. International during the fourth quarter worth about $40,514,000. Aviva PLC purchased a new stake in shares of Service Corp. International during the second quarter worth about $15,748,000. Point72 Asset Management L.P. purchased a new stake in shares of Service Corp. International during the second quarter worth about $14,666,000. Vanguard Group Inc. raised its stake in shares of Service Corp. International by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,487,825 shares of the company’s stock worth $364,712,000 after buying an additional 479,158 shares in the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of Service Corp. International by 444.4% in the second quarter. BlackRock Advisors LLC now owns 538,891 shares of the company’s stock worth $14,572,000 after buying an additional 439,896 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
Service Corp. 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 are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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