Service Corporation International (SCI) Cut to Hold at Zacks Investment Research
Service Corporation International (NYSE:SCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
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. “
SCI has been the subject of a number of other reports. BidaskClub upgraded Service Corporation International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $37.00 price target (up from $34.00) on shares of Service Corporation International in a research note on Friday, July 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $37.00.
Shares of Service Corporation International (NYSE:SCI) opened at 34.70 on Friday. The firm’s 50-day moving average price is $34.99 and its 200-day moving average price is $32.62. Service Corporation International has a 12 month low of $24.90 and a 12 month high of $35.89. The company has a market cap of $6.50 billion, a PE ratio of 18.81 and a beta of 0.93.
Service Corporation International (NYSE:SCI) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The firm had revenue of $773.20 million during the quarter, compared to the consensus estimate of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Equities analysts predict that Service Corporation International will post $1.47 EPS for the current fiscal year.
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In other news, CEO Thomas L. Ryan sold 48,606 shares of Service Corporation International stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.92, for a total transaction of $1,551,503.52. Following the completion of the transaction, the chief executive officer now directly owns 1,123,715 shares in the company, valued at approximately $35,868,982.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Eric D. Tanzberger sold 187,100 shares of Service Corporation International stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 150,217 shares of the company’s stock, valued at $5,247,079.81. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Service Corporation International by 315.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after acquiring an additional 2,800 shares during the period. IFP Advisors Inc boosted its stake in shares of Service Corporation International by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock worth $142,000 after acquiring an additional 89 shares during the period. Founders Capital Management bought a new position in shares of Service Corporation International during the 1st quarter worth approximately $185,000. Glen Harbor Capital Management LLC boosted its stake in shares of Service Corporation International by 11.1% during the 1st quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock worth $187,000 after acquiring an additional 608 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Service Corporation International during the 1st quarter worth approximately $200,000. Institutional investors own 84.83% of the company’s stock.
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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