Service Corporation International (SCI) Stock Rating Upgraded by BidaskClub
Service Corporation International (NYSE:SCI) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.
Other equities research analysts have also issued research reports about the stock. Deutsche Bank AG initiated coverage on shares of Service Corporation International in a report on Monday, May 1st. They set a “buy” rating and a $40.00 price objective for the company. Zacks Investment Research raised shares of Service Corporation International from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Saturday, April 29th. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $37.00 target price (up previously from $34.00) on shares of Service Corporation International in a research report on Friday, July 21st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Service Corporation International presently has a consensus rating of “Buy” and an average price target of $37.00.
Shares of Service Corporation International (NYSE SCI) traded up 0.91% during trading on Friday, hitting $35.36. 1,123,871 shares of the company traded hands. The company has a 50 day moving average price of $34.41 and a 200 day moving average price of $32.09. Service Corporation International has a 52 week low of $24.90 and a 52 week high of $35.89. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 19.17 and a beta of 0.93.
Service Corporation International (NYSE:SCI) last announced 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 company had revenue of $773.20 million during the quarter, compared to analyst estimates of $769.57 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts expect that Service Corporation International will post $1.47 earnings per share for the current year.
In other Service Corporation International news, CEO Thomas L. Ryan sold 51,394 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $32.55, for a total transaction of $1,672,874.70. Following the transaction, the chief executive officer now owns 1,119,503 shares of the company’s stock, valued at approximately $36,439,822.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward E. Williams sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $32.12, for a total transaction of $321,200.00. Following the transaction, the director now directly owns 165,372 shares in the company, valued at approximately $5,311,748.64. The disclosure for this sale can be found here. Insiders have sold a total of 210,000 shares of company stock worth $6,725,578 in the last three months. Insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its position in shares of Service Corporation International by 315.7% in the second quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after buying an additional 2,800 shares during the last quarter. IFP Advisors Inc increased its position in shares of Service Corporation International by 2.1% in the second quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after buying an additional 89 shares during the last quarter. Founders Capital Management purchased a new position in shares of Service Corporation International during the first quarter worth about $185,000. Glen Harbor Capital Management LLC increased its position in shares of Service Corporation International by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock worth $187,000 after buying an additional 608 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Service Corporation International during the first quarter worth about $200,000. 86.66% of the stock is currently owned by institutional investors and hedge funds.
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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