Service Corporation International (NYSE:SCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
Separately, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating on shares of Service Corporation International in a research note on Tuesday, December 20th.
Shares of Service Corporation International (NYSE:SCI) traded down 0.16% during midday trading on Friday, hitting $31.30. The stock had a trading volume of 1,149,813 shares. Service Corporation International has a 12-month low of $22.33 and a 12-month high of $32.21. The stock has a 50-day moving average price of $29.29 and a 200-day moving average price of $27.28. The stock has a market cap of $5.93 billion, a P/E ratio of 34.78 and a beta of 0.85.
Service Corporation International (NYSE:SCI) last posted its earnings results on Monday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Service Corporation International had a return on equity of 22.02% and a net margin of 5.84%. The firm had revenue of $809.10 million for the quarter, compared to analyst estimates of $795.23 million. During the same quarter in the prior year, the company earned $0.37 EPS. Service Corporation International’s revenue was up 5.2% on a year-over-year basis. Equities analysts forecast that Service Corporation International will post $1.36 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, March 13th. Service Corporation International’s payout ratio is currently 57.78%.
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Large investors have recently bought and sold shares of the stock. Sarasin & Partners LLP raised its stake in Service Corporation International by 15.3% in the third quarter. Sarasin & Partners LLP now owns 2,847,626 shares of the company’s stock worth $75,576,000 after buying an additional 378,243 shares during the last quarter. Rothschild Asset Management Inc. raised its stake in Service Corporation International by 8.4% in the third quarter. Rothschild Asset Management Inc. now owns 446,060 shares of the company’s stock worth $11,838,000 after buying an additional 34,660 shares during the last quarter. Three Peaks Capital Management LLC raised its stake in Service Corporation International by 5.5% in the third quarter. Three Peaks Capital Management LLC now owns 318,733 shares of the company’s stock worth $8,459,000 after buying an additional 16,603 shares during the last quarter. Citadel Advisors LLC raised its stake in Service Corporation International by 5,681.3% in the third quarter. Citadel Advisors LLC now owns 648,139 shares of the company’s stock worth $17,202,000 after buying an additional 636,928 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Service Corporation International by 4.2% in the third quarter. BlackRock Fund Advisors now owns 7,137,267 shares of the company’s stock worth $189,423,000 after buying an additional 289,161 shares during the last quarter. 83.34% of the stock is currently owned by hedge funds and other institutional investors.
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 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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