Credit Suisse Group Reiterates Outperform Rating for Service Corporation International (SCI)
Service Corporation International (NYSE:SCI)‘s stock had its “outperform” rating reiterated by equities research analysts at Credit Suisse Group in a note issued to investors on Friday. They presently have a $40.00 target price on the stock, up from their prior target price of $38.00.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Service Corporation International from a “sell” rating to a “hold” rating and set a $40.00 price objective for the company in a research note on Saturday, October 28th. BidaskClub upgraded Service Corporation International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $39.75.
Service Corporation International (NYSE:SCI) last announced its earnings results on Wednesday, October 25th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $731.30 million for the quarter, compared to analyst estimates of $735.62 million. Service Corporation International had a return on equity of 24.85% and a net margin of 11.83%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS.
In related news, VP Gregory T. Sangalis sold 72,300 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 129,883 shares in the company, valued at $4,597,858.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Ryan sold 100,000 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $34.92, for a total value of $3,492,000.00. Following the completion of the transaction, the chief executive officer now owns 1,175,109 shares of the company’s stock, valued at $41,034,806.28. The disclosure for this sale can be found here. Insiders have sold 604,800 shares of company stock worth $21,109,153 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of SCI. Acrospire Investment Management LLC boosted its holdings in Service Corporation International by 315.7% in the second quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock valued at $123,000 after purchasing an additional 2,800 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Service Corporation International during the 2nd quarter worth $124,000. IFP Advisors Inc boosted its position in shares of Service Corporation International by 6.0% in the first quarter. IFP Advisors Inc now owns 5,767 shares of the company’s stock worth $142,000 after buying an additional 325 shares during the period. Founders Capital Management acquired a new stake in shares of Service Corporation International in the first quarter worth $185,000. Finally, Glen Harbor Capital Management LLC boosted its position in Service Corporation International by 11.1% during the first quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock valued at $187,000 after purchasing an additional 608 shares during the last quarter. Institutional investors and hedge funds own 85.54% 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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