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

Service Co. International (NYSE:SCI) posted its quarterly earnings data on Wednesday. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04, Briefing.com reports. Service Co. International had a return on equity of 32.23% and a net margin of 12.73%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. Service Co. International’s revenue for the quarter 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 $67.59 on Friday. The stock has a market capitalization of $9.90 billion, a PE ratio of 19.42, a P/E/G ratio of 1.89 and a beta of 0.81. Service Co. International has a 1 year low of $52.89 and a 1 year high of $75.97. The company’s 50 day simple moving average is $72.21 and its two-hundred day simple moving average is $67.19. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.62 and a quick ratio of 0.62.

Service Co. International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, March 14th. This is a positive change from Service Co. International’s previous quarterly dividend of $0.29. Service Co. International’s payout ratio is presently 33.33%.

Insider Activity at Service Co. International

In related news, CEO Thomas L. Ryan sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $73.53, for a total value of $5,514,750.00. Following the sale, the chief executive officer now directly owns 988,365 shares of the company’s stock, valued at $72,674,478.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Thomas L. Ryan sold 16,580 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $72.20, for a total transaction of $1,197,076.00. Following the transaction, the chief executive officer now owns 988,365 shares of the company’s stock, valued at approximately $71,359,953. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction of $5,514,750.00. Following the completion of the transaction, the chief executive officer now owns 988,365 shares in the company, valued at approximately $72,674,478.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 211,292 shares of company stock valued at $15,670,096. Company insiders own 5.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SCI shares. UBS Group increased their price target on Service Co. International from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Oppenheimer lifted their target price on shares of Service Co. International from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.