Service Corporation International Plans Quarterly Dividend of $0.15 (SCI)
Service Corporation International (NYSE:SCI) declared a quarterly dividend on Monday, August 7th, RTT News reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.15 per share on Friday, September 29th. This represents a $0.60 dividend on an annualized basis and a yield of 1.72%.
Service Corporation International has increased its dividend by an average of 23.6% per year over the last three years and has raised its dividend every year for the last 5 years. Service Corporation International has a dividend payout ratio of 41.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Service Corporation International to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 38.7%.
Shares of Service Corporation International (NYSE SCI) traded up 0.63% during trading on Monday, reaching $35.03. 508,015 shares of the company’s stock were exchanged. The company has a 50 day moving average of $33.45 and a 200 day moving average of $31.58. Service Corporation International has a 12-month low of $24.90 and a 12-month high of $35.50. The stock has a market cap of $6.56 billion, a P/E ratio of 18.99 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 net margin of 11.59% and a return on equity of 24.67%. The business had revenue of $773.20 million for the quarter, compared to analysts’ expectations of $769.57 million. During the same period in the previous year, the business earned $0.28 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Equities research analysts anticipate that Service Corporation International will post $1.47 EPS for the current year.
SCI has been the topic of several research reports. BidaskClub upgraded shares of Service Corporation International from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $37.00 price target (up from $34.00) on shares of Service Corporation International in a research report on Friday, July 21st. Zacks Investment Research cut shares of Service Corporation International from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, Deutsche Bank AG initiated coverage on shares of Service Corporation International in a research report on Monday, May 1st. They issued a “buy” rating and a $40.00 price target on the stock. Five analysts have rated the stock with a buy rating, Service Corporation International has a consensus rating of “Buy” and a consensus target price of $37.00.
In other Service Corporation International news, Director Edward E. Williams sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $32.12, for a total value of $321,200.00. Following the sale, the director now directly owns 165,372 shares in the company, valued at $5,311,748.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Ryan sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $31.80, for a total transaction of $3,180,000.00. Following the completion of the sale, the chief executive officer now owns 1,175,109 shares in the company, valued at $37,368,466.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,000 shares of company stock worth $6,725,578. 6.20% of the stock is owned by company insiders.
About Service Corporation International
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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