Zacks Investment Research upgraded shares of Service Corp. International (NYSE:SCI) from a sell rating to a hold rating in a report released on Saturday morning.
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 research analysts have also issued reports about the stock. Bank of America Corp. started coverage on shares of Service Corp. International in a report on Friday, September 30th. They set a buy rating and a $32.00 price target for the company. 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.
Service Corp. International (NYSE:SCI) opened at 27.27 on Friday. The stock’s 50 day moving average is $26.09 and its 200-day moving average is $26.76. Service Corp. International has a one year low of $20.21 and a one year high of $28.81. The firm has a market capitalization of $5.19 billion, a PE ratio of 29.45 and a beta of 0.83.
Service Corp. International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. Service Corp. International had a net margin of 6.12% and a return on equity of 20.38%. The company earned $721.50 million during the quarter, compared to analyst estimates of $740.69 million. During the same period in the prior year, the business posted $0.23 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Service Corp. International will post $1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. Service Corp. International’s dividend payout ratio is currently 56.52%.
In related news, Director W Blair Waltrip sold 4,800 shares of the company’s stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $25.28, for a total transaction of $121,344.00. Following the completion of the sale, the director now directly owns 701,409 shares in the company, valued at approximately $17,731,619.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael R. Webb sold 93,300 shares of the company’s stock in a transaction on 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 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. Corporate insiders own 6.00% of the company’s stock.
A number of large investors have recently bought and sold shares of SCI. Fuller & Thaler Asset Management Inc. purchased a new stake in Service Corp. International during the second quarter worth approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Service Corp. International by 13.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,257 shares of the company’s stock worth $166,000 after buying an additional 758 shares in the last quarter. Wedbush Securities Inc. purchased a new stake in Service Corp. International during the second quarter worth approximately $202,000. Nomura Holdings Inc. purchased a new stake in Service Corp. International during the second quarter worth approximately $205,000. Finally, Two Sigma Securities LLC purchased a new stake in Service Corp. International during the third quarter worth approximately $223,000. Institutional investors own 83.91% of the company’s stock.
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.