Service Corporation International (NYSE:SCI) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Service Corporation International (NYSE:SCI) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning,Zacks reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Service Corporation International from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, October 30th. UBS Group cut their price target on shares of Service Corporation International from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Wall Street Zen downgraded shares of Service Corporation International from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Finally, Weiss Ratings raised shares of Service Corporation International from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Service Corporation International has a consensus rating of “Moderate Buy” and an average price target of $95.67.

Service Corporation International Price Performance

Shares of NYSE:SCI opened at $77.10 on Tuesday. The business has a fifty day moving average price of $79.56 and a 200-day moving average price of $79.91. The company has a debt-to-equity ratio of 3.16, a current ratio of 0.40 and a quick ratio of 0.36. The company has a market capitalization of $10.48 billion, a PE ratio of 19.13, a PEG ratio of 1.89 and a beta of 0.77. Service Corporation International has a 1-year low of $68.41 and a 1-year high of $90.99.

Service Corporation International (NYSE:SCI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.02). Service Corporation International had a return on equity of 34.96% and a net margin of 12.70%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities analysts expect that Service Corporation International will post 4.00 EPS for the current fiscal year.

Service Corporation International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, December 15th. Service Corporation International’s dividend payout ratio (DPR) is presently 35.73%.

Hedge Funds Weigh In On Service Corporation International

A number of hedge funds have recently bought and sold shares of SCI. Turtle Creek Asset Management Inc. raised its holdings in shares of Service Corporation International by 12.0% during the first quarter. Turtle Creek Asset Management Inc. now owns 1,161,496 shares of the company’s stock valued at $95,835,000 after purchasing an additional 124,151 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Service Corporation International during the second quarter valued at approximately $80,965,000. Handelsbanken Fonder AB boosted its holdings in Service Corporation International by 3.8% in the second quarter. Handelsbanken Fonder AB now owns 881,985 shares of the company’s stock worth $66,996,000 after purchasing an additional 32,137 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Service Corporation International by 18.3% in the first quarter. California State Teachers Retirement System now owns 164,939 shares of the company’s stock worth $13,609,000 after purchasing an additional 25,524 shares during the last quarter. Finally, Aureus Asset Management LLC boosted its holdings in Service Corporation International by 196.8% in the first quarter. Aureus Asset Management LLC now owns 112,192 shares of the company’s stock worth $9,257,000 after purchasing an additional 74,387 shares during the last quarter. Hedge funds and other institutional investors own 85.53% of the company’s stock.

About Service Corporation International

Service Corporation International (NYSE:SCI) is a Houston-based provider of funeral, cremation and cemetery services. The company operates funeral homes, cemeteries and cremation facilities, offering arrangements for traditional funerals, memorial services and cremations, as well as cemetery property, burial services and related merchandise.

SCI serves families primarily in the United States and Canada through a network of locations and a portfolio of brands that includes Dignity Memorial, Funeraria del Angel and Neptune Society.