Oppenheimer Holdings Analysts Boost Earnings Estimates for Service Corporation International (SCI)
Service Corporation International (NYSE:SCI) – Investment analysts at Oppenheimer Holdings upped their FY2017 EPS estimates for Service Corporation International in a research report issued to clients and investors on Thursday. Oppenheimer Holdings analyst S. Schneeberger now anticipates that the company will earn $1.51 per share for the year, up from their previous estimate of $1.42. Oppenheimer Holdings has a “Buy” rating and a $39.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Service Corporation International’s Q1 2018 earnings at $0.37 EPS, Q2 2018 earnings at $0.40 EPS, Q3 2018 earnings at $0.32 EPS, Q4 2018 earnings at $0.50 EPS and FY2019 earnings at $1.70 EPS.
SCI has been the subject of several other research reports. Zacks Investment Research upgraded shares of Service Corporation International from a “sell” rating to a “hold” rating and set a $40.00 price target for the company in a report on Saturday, October 28th. BidaskClub upgraded shares of Service Corporation International from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price target (up previously from $38.00) on shares of Service Corporation International in a report on Friday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.75.
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Service Corporation International (NYSE SCI) opened at $36.27 on Monday. The firm has a market cap of $6,720.81, a P/E ratio of 23.43, a PEG ratio of 2.14 and a beta of 0.96. Service Corporation International has a 1-year low of $24.90 and a 1-year high of $35.94. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 2.66.
Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The company had revenue of $731.30 million during the quarter, compared to analysts’ expectations of $735.62 million. Service Corporation International had a net margin of 11.83% and a return on equity of 24.85%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in SCI. OppenheimerFunds Inc. boosted its holdings in Service Corporation International by 8.7% during the first quarter. OppenheimerFunds Inc. now owns 24,481 shares of the company’s stock worth $756,000 after purchasing an additional 1,953 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Service Corporation International by 4.5% during the first quarter. Teachers Advisors LLC now owns 218,835 shares of the company’s stock worth $6,758,000 after purchasing an additional 9,350 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Service Corporation International by 4.5% during the first quarter. PNC Financial Services Group Inc. now owns 8,677 shares of the company’s stock worth $267,000 after purchasing an additional 375 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Service Corporation International by 9.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 590,087 shares of the company’s stock worth $18,222,000 after purchasing an additional 51,598 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new position in Service Corporation International during the first quarter worth $255,000. Institutional investors and hedge funds own 85.48% of the company’s stock.
In related news, Director W Blair Waltrip sold 2,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $35.07, for a total transaction of $70,140.00. Following the completion of the transaction, the director now owns 661,409 shares in the company, valued at $23,195,613.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory T. Sangalis sold 72,300 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $35.40, for a total transaction of $2,559,420.00. Following the transaction, the vice president now owns 129,883 shares of the company’s stock, valued at approximately $4,597,858.20. The disclosure for this sale can be found here. Insiders sold 604,800 shares of company stock valued at $21,109,153 in the last quarter. Corporate insiders own 6.20% of the company’s stock.
Service Corporation 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 include Funeral, Cemetery and Corporate. It conducts both funeral and cemetery operations in the United States and Canada. As December 31, 2016, it operated 1,502 funeral service locations and 470 cemeteries, including 281 funeral service/cemetery combination locations, which are geographically diversified across 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.
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