Service Corporation International (SCI) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research cut shares of Service Corporation International (NYSE:SCI) from a buy rating to a hold rating in a research note issued to investors 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 also recently issued research reports about the company. Oppenheimer Holdings, Inc. reaffirmed a buy rating and set a $39.00 price objective on shares of Service Corporation International in a research report on Tuesday, September 26th. BidaskClub raised Service Corporation International from a hold rating to a buy rating in a research report on Monday, July 31st.
Service Corporation International (SCI) traded down 0.14% during trading on Friday, hitting $34.50. The stock had a trading volume of 961,750 shares. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89. The stock’s 50-day moving average is $35.12 and its 200-day moving average is $32.83. The stock has a market capitalization of $6.46 billion, a PE ratio of 18.70 and a beta of 0.93.
Service Corporation International (NYSE:SCI) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The company had revenue of $773.20 million for the quarter, compared to the consensus estimate of $769.57 million. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Service Corporation International will post $1.46 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Thursday, September 14th. Service Corporation International’s payout ratio is currently 32.43%.
In other Service Corporation International news, CEO Thomas L. Ryan sold 100,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $34.92, for a total value of $3,492,000.00. Following the completion of the sale, the chief executive officer now owns 1,175,109 shares of the company’s stock, valued at $41,034,806.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Eric D. Tanzberger sold 187,100 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $34.93, for a total value of $6,535,403.00. Following the completion of the sale, the chief financial officer now directly owns 150,217 shares of the company’s stock, valued at approximately $5,247,079.81. The disclosure for this sale can be found here. In the last three months, insiders sold 604,800 shares of company stock valued at $21,109,153. Corporate insiders own 6.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. 361 Capital LLC boosted its holdings in Service Corporation International by 22.4% in the second quarter. 361 Capital LLC now owns 184,704 shares of the company’s stock worth $6,178,000 after acquiring an additional 33,748 shares in the last quarter. Green Square Capital LLC acquired a new stake in Service Corporation International in the second quarter worth about $262,000. State Street Corp boosted its holdings in Service Corporation International by 0.4% in the second quarter. State Street Corp now owns 4,961,421 shares of the company’s stock worth $165,957,000 after acquiring an additional 20,669 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in Service Corporation International by 59.4% in the second quarter. Flinton Capital Management LLC now owns 16,912 shares of the company’s stock worth $566,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its holdings in Service Corporation International by 271.3% in the second quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock worth $26,016,000 after acquiring an additional 568,279 shares in the last quarter. 84.83% of the stock is owned by institutional investors and hedge funds.
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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