$814.99 Million in Sales Expected for Service Corporation International (SCI) This Quarter
Equities analysts expect Service Corporation International (NYSE:SCI) to post sales of $814.99 million for the current quarter, Zacks reports. Three analysts have provided estimates for Service Corporation International’s earnings. The lowest sales estimate is $781.70 million and the highest is $838.68 million. Service Corporation International reported sales of $809.05 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.7%. The business is expected to report its next earnings results on Monday, February 12th.
According to Zacks, analysts expect that Service Corporation International will report full-year sales of $814.99 million for the current financial year, with estimates ranging from $3.06 billion to $3.12 billion. For the next year, analysts anticipate that the business will report sales of $3.23 billion per share, with estimates ranging from $3.19 billion to $3.27 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Service Corporation International.
Service Corporation International (NYSE:SCI) last released its quarterly earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Service Corporation International had a return on equity of 24.85% and a net margin of 11.83%. The business had revenue of $731.30 million during the quarter, compared to analyst estimates of $735.62 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. Service Corporation International’s revenue for the quarter was up 1.4% on a year-over-year basis.
A number of equities research analysts have recently commented on SCI shares. BidaskClub upgraded Service Corporation International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Zacks Investment Research cut Service Corporation International from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $39.00 target price on shares of Service Corporation International in a research report on Tuesday, September 26th.
In related news, Director W Blair Waltrip sold 2,000 shares of Service Corporation International stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $35.07, for a total value of $70,140.00. Following the sale, the director now directly owns 661,409 shares in the company, valued at approximately $23,195,613.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Gregory T. Sangalis sold 72,300 shares of Service Corporation International stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $35.40, for a total value of $2,559,420.00. Following the completion of the sale, the vice president now owns 129,883 shares in the company, valued at $4,597,858.20. The disclosure for this sale can be found here. Insiders have sold a total of 604,800 shares of company stock worth $21,109,153 over the last 90 days. Insiders own 6.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of SCI. Balyasny Asset Management LLC boosted its holdings in Service Corporation International by 271.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 777,768 shares of the company’s stock worth $26,016,000 after buying an additional 568,279 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Service Corporation International in the 1st quarter worth about $5,555,000. Canada Pension Plan Investment Board acquired a new stake in Service Corporation International in the 3rd quarter worth about $4,806,000. State Street Corp boosted its holdings in Service Corporation International by 2.8% in the 1st quarter. State Street Corp now owns 4,940,752 shares of the company’s stock worth $152,574,000 after buying an additional 136,387 shares during the last quarter. Finally, DnB Asset Management AS boosted its holdings in Service Corporation International by 104.9% in the 2nd quarter. DnB Asset Management AS now owns 237,500 shares of the company’s stock worth $7,944,000 after buying an additional 121,600 shares during the last quarter. Institutional investors own 85.54% of the company’s stock.
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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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