FY2017 Earnings Forecast for Service Corp. International (SCI) Issued By Oppenheimer Holdings
Service Corp. International (NYSE:SCI) – Analysts at Oppenheimer Holdings cut their FY2017 earnings estimates for shares of Service Corp. International in a research report issued on Friday. Oppenheimer Holdings analyst S. Schneeberger now expects that the firm will post earnings of $1.38 per share for the year, down from their prior forecast of $1.40. Oppenheimer Holdings has a “Outperform” rating and a $32.00 price objective on the stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Service Corp. International from a “sell” rating to a “hold” rating in a report on Saturday, July 30th. Wells Fargo & Co. assumed coverage on Service Corp. International in a report on Tuesday, August 2nd. They issued a “market perform” rating on the stock. Finally, Bank of America Corp. assumed coverage on Service Corp. International in a report on Friday, September 30th. They issued a “buy” rating and a $32.00 price target on the stock.
Shares of Service Corp. International (NYSE:SCI) opened at 26.47 on Monday. The stock has a 50 day moving average price of $26.46 and a 200-day moving average price of $26.66. The firm has a market capitalization of $5.13 billion, a PE ratio of 28.87 and a beta of 0.81. Service Corp. International has a 52 week low of $20.21 and a 52 week high of $29.68.
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Service Corp. International (NYSE:SCI) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. Service Corp. International had a net margin of 6.13% and a return on equity of 19.48%. The firm earned $751.70 million during the quarter, compared to analyst estimates of $766.81 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was down .4% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, September 13th. Service Corp. International’s dividend payout ratio (DPR) is presently 57.14%.
In other Service Corp. International news, Director Edward E. Williams sold 10,000 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $27.17, for a total transaction of $271,700.00. Following the transaction, the director now owns 164,917 shares of the company’s stock, valued at approximately $4,480,794.89. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Alan R. Buckwalter III sold 14,944 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $27.40, for a total value of $409,465.60. Following the transaction, the director now directly owns 109,343 shares in the company, valued at approximately $2,995,998.20. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Aviva PLC acquired a new position in shares of Service Corp. International during the second quarter worth $15,748,000. Point72 Asset Management L.P. acquired a new position in shares of Service Corp. International during the second quarter worth $14,666,000. Vanguard Group Inc. raised its position in shares of Service Corp. International by 3.7% in the second quarter. Vanguard Group Inc. now owns 13,487,825 shares of the company’s stock valued at $364,712,000 after buying an additional 479,158 shares during the period. BlackRock Advisors LLC raised its position in shares of Service Corp. International by 444.4% in the second quarter. BlackRock Advisors LLC now owns 538,891 shares of the company’s stock valued at $14,572,000 after buying an additional 439,896 shares during the period. Finally, Sarasin & Partners LLP raised its position in shares of Service Corp. International by 15.3% in the third quarter. Sarasin & Partners LLP now owns 2,847,626 shares of the company’s stock valued at $75,576,000 after buying an additional 378,243 shares during the period. 83.22% of the stock is currently owned by institutional investors.
Service Corp. 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 are funeral and cemetery operations. The Company conducts both funeral and cemetery operations in the United States and Canada. It operates over 1,535 funeral service locations and over 470 cemeteries, which are diversified across over 45 states, over eight Canadian provinces, the District of Columbia, and Puerto Rico.
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