Service Corporation International (SCI) Rating Increased to Hold at Zacks Investment Research
Service Corporation International (NYSE:SCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
Several other research analysts have also recently weighed in on the stock. BidaskClub raised shares of Service Corporation International from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $37.00 price target (up from $34.00) on shares of Service Corporation International in a report on Friday, July 21st.
Shares of Service Corporation International (NYSE:SCI) opened at 35.62 on Friday. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89. The company’s 50-day moving average price is $34.53 and its 200-day moving average price is $33.51. The firm has a market capitalization of $6.67 billion, a P/E ratio of 19.31 and a beta of 0.92.
Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. The firm had revenue of $731.30 million for the quarter, compared to analysts’ expectations of $735.62 million. Service Corporation International had a net margin of 11.83% and a return on equity of 24.85%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, equities research analysts expect that Service Corporation International will post $1.46 EPS for the current fiscal year.
In other Service Corporation International news, Director W Blair Waltrip sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $35.07, for a total transaction of $70,140.00. Following the transaction, the director now owns 661,409 shares in the company, valued at approximately $23,195,613.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael R. Webb sold 202,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $34.70, for a total transaction of $7,009,400.00. Following the transaction, the insider now owns 622,903 shares in the company, valued at approximately $21,614,734.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 604,800 shares of company stock worth $21,109,153. Company insiders own 6.20% of the company’s stock.
Several large investors have recently made changes to their positions in SCI. Acrospire Investment Management LLC grew its position 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 purchasing an additional 2,800 shares in the last quarter. IFP Advisors Inc grew its position 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 purchasing an additional 89 shares in the last quarter. CIBC Asset Management Inc acquired a new position in shares of Service Corporation International during the 2nd quarter worth approximately $210,000. Hartford Investment Management Co. acquired a new position in shares of Service Corporation International during the 2nd quarter worth approximately $229,000. Finally, HighTower Advisors LLC acquired a new position in shares of Service Corporation International during the 1st quarter worth approximately $255,000. Hedge funds and other institutional investors own 85.51% of the company’s stock.
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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