Stock analysts at Bank of America Corp. started coverage on shares of Service Corp. International (NYSE:SCI) in a note issued to investors on Friday. The brokerage set a “buy” rating and a $32.00 price target on the stock. Bank of America Corp.’s target price indicates a potential upside of 21.03% from the stock’s current price.
A number of other research firms have also weighed in on SCI. Wells Fargo & Co. started coverage on shares of Service Corp. International in a report on Tuesday, August 2nd. They set a “market perform” rating for the company. Zacks Investment Research raised shares of Service Corp. International from a “sell” rating to a “hold” rating in a report on Saturday, July 30th. Finally, Oppenheimer Holdings Inc. raised their price target on shares of Service Corp. International from $29.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, July 28th.
Shares of Service Corp. International (NYSE:SCI) opened at 26.44 on Friday. Service Corp. International has a one year low of $20.21 and a one year high of $29.68. The stock has a 50 day moving average of $26.58 and a 200-day moving average of $26.54. The stock has a market capitalization of $5.12 billion, a PE ratio of 28.83 and a beta of 0.81.
Service Corp. International (NYSE:SCI) last released its quarterly earnings results 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 firm had revenue of $751.70 million for the quarter, compared to analyst estimates of $766.81 million. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. Service Corp. International’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. Equities analysts predict that Service Corp. International will post $1.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.97%. The ex-dividend date was Tuesday, September 13th. Service Corp. International’s dividend payout ratio is currently 57.14%.
In other Service Corp. International news, CEO Thomas L. Ryan sold 208,444 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $27.05, for a total transaction of $5,638,410.20. Following the completion of the transaction, the chief executive officer now directly owns 1,283,553 shares of the company’s stock, valued at approximately $34,720,108.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 83,896 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $27.06, for a total transaction of $2,270,225.76. Following the transaction, the chief executive officer now directly owns 1,159,005 shares of the company’s stock, valued at $31,362,675.30. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Service Corp. International during the second quarter valued at $124,000. IFP Advisors Inc raised its position in shares of Service Corp. International by 6.0% in the first quarter. IFP Advisors Inc now owns 5,767 shares of the company’s stock valued at $142,000 after buying an additional 325 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Service Corp. International during the second quarter valued at $202,000. Nomura Holdings Inc. bought a new position in shares of Service Corp. International during the second quarter valued at $205,000. Finally, Wright Investors Service Inc. bought a new position in shares of Service Corp. International during the second quarter valued at $233,000. 83.27% of the stock is owned by institutional investors.
About Service Corp. 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 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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