Service Corporation International (NYSE:SCI) Releases Quarterly Earnings Results, Hits Expectations

Service Corporation International (NYSE:SCI) issued its quarterly earnings results on Wednesday. The company reported $1.14 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.14, FiscalAI reports. Service Corporation International had a net margin of 12.46% and a return on equity of 33.60%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business posted $1.06 earnings per share. Service Corporation International’s revenue for the quarter was up 1.7% compared to the same quarter last year.

Service Corporation International Price Performance

Shares of SCI stock traded down $4.85 on Thursday, hitting $79.56. 980,996 shares of the company’s stock were exchanged, compared to its average volume of 1,002,917. Service Corporation International has a 12 month low of $71.75 and a 12 month high of $86.67. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.56 and a quick ratio of 0.52. The company has a 50 day moving average of $79.90 and a 200 day moving average of $80.15. The stock has a market cap of $11.15 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99.

Insider Buying and Selling at Service Corporation International

In other news, VP Elisabeth G. Nash sold 42,400 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $76.32, for a total transaction of $3,235,968.00. Following the completion of the transaction, the vice president directly owned 110,006 shares in the company, valued at approximately $8,395,657.92. This represents a 27.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Service Corporation International

A number of hedge funds and other institutional investors have recently bought and sold shares of SCI. Sunbelt Securities Inc. bought a new position in Service Corporation International in the third quarter valued at about $42,000. Los Angeles Capital Management LLC acquired a new stake in Service Corporation International during the 4th quarter worth approximately $54,000. Danske Bank A S bought a new stake in Service Corporation International during the 3rd quarter worth approximately $83,000. Brighton Jones LLC bought a new stake in Service Corporation International during the 4th quarter worth approximately $435,000. Finally, Brown Brothers Harriman & Co. increased its position in Service Corporation International by 218.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,596 shares of the company’s stock valued at $436,000 after acquiring an additional 3,836 shares during the period. Institutional investors own 85.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of Service Corporation International in a research report on Tuesday, January 20th. They set an “overweight” rating and a $110.00 price target for the company. Weiss Ratings raised Service Corporation International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $96.50.

About Service Corporation International

Service Corporation International (NYSE: SCI) is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.

Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.