Service Corporation International (NYSE:SCI) Short Interest Update

Service Corporation International (NYSE:SCI) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 4,602,127 shares, a growth of 18.9% from the February 12th total of 3,869,468 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily volume of 1,099,069 shares, the days-to-cover ratio is presently 4.2 days. Based on an average daily volume of 1,099,069 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several equities research analysts recently commented on SCI shares. Wall Street Zen cut Service Corporation International from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. initiated coverage on Service Corporation International in a research report on Tuesday, January 20th. They set an “overweight” rating and a $110.00 price target on the stock. Finally, Weiss Ratings raised Service Corporation International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 2nd. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, Service Corporation International has a consensus rating of “Buy” and an average price target of $96.50.

Insider Activity

In other Service Corporation International news, CAO Tammy R. Moore sold 5,000 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $80.48, for a total transaction of $402,400.00. Following the sale, the chief accounting officer directly owned 21,654 shares in the company, valued at approximately $1,742,713.92. The trade was a 18.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tony Coelho sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $79.87, for a total transaction of $614,999.00. Following the completion of the sale, the director directly owned 28,388 shares of the company’s stock, valued at approximately $2,267,349.56. This represents a 21.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Service Corporation International

Hedge funds have recently modified their holdings of the stock. CX Institutional lifted its holdings in shares of Service Corporation International by 1.3% during the third quarter. CX Institutional now owns 10,153 shares of the company’s stock valued at $845,000 after purchasing an additional 134 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Service Corporation International by 0.7% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 29,900 shares of the company’s stock worth $2,488,000 after purchasing an additional 200 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Service Corporation International by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 43,521 shares of the company’s stock worth $3,622,000 after purchasing an additional 270 shares in the last quarter. Focus Partners Wealth raised its holdings in Service Corporation International by 3.1% during the 1st quarter. Focus Partners Wealth now owns 10,571 shares of the company’s stock worth $848,000 after buying an additional 321 shares during the period. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Service Corporation International during the third quarter valued at about $33,000. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Service Corporation International Price Performance

Shares of SCI traded down $0.12 during mid-day trading on Tuesday, hitting $79.36. The company’s stock had a trading volume of 1,064,795 shares, compared to its average volume of 1,135,683. The firm has a 50-day moving average price of $81.26 and a 200 day moving average price of $80.39. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.76 and a beta of 1.00. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.55 and a quick ratio of 0.50. Service Corporation International has a fifty-two week low of $71.75 and a fifty-two week high of $86.67.

Service Corporation International (NYSE:SCI) last released its earnings results on Wednesday, February 11th. The company reported $1.14 EPS for the quarter, meeting the consensus estimate of $1.14. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Service Corporation International had a net margin of 12.59% and a return on equity of 34.21%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. On average, research analysts predict that Service Corporation International will post 3.84 EPS for the current fiscal year.

Service Corporation International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.34 per share. This is a boost from Service Corporation International’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, March 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. Service Corporation International’s payout ratio is currently 35.79%.

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.