Credit Suisse Group reiterated their buy rating on shares of Service Co. International (NYSE:SCI) in a research note released on Monday, AnalystRatings.com reports. Credit Suisse Group currently has a $52.00 price target on the stock.
A number of other research analysts have also recently issued reports on the stock. Raymond James lifted their price target on shares of Service Co. International from $50.00 to $54.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. ValuEngine cut shares of Service Co. International from a buy rating to a hold rating in a research report on Wednesday, October 2nd.
NYSE SCI traded down $0.15 during trading hours on Monday, reaching $44.00. 585,241 shares of the company’s stock traded hands, compared to its average volume of 961,682. Service Co. International has a 52-week low of $37.52 and a 52-week high of $48.69. The firm has a market cap of $8.01 billion, a PE ratio of 24.58, a PEG ratio of 2.05 and a beta of 0.89. The firm has a 50-day simple moving average of $46.13 and a 200 day simple moving average of $45.64. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.63 and a quick ratio of 0.58.
Service Co. International (NYSE:SCI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.01). Service Co. International had a net margin of 12.98% and a return on equity of 19.90%. The business had revenue of $769.20 million for the quarter, compared to analysts’ expectations of $790.05 million. During the same period last year, the business earned $0.35 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts forecast that Service Co. International will post 1.9 EPS for the current fiscal year.
Service Co. International declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 14th that allows the company to buyback $246.00 million in shares. This buyback authorization allows the company to repurchase up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Service Co. International news, CEO Thomas L. Ryan sold 28,836 shares of Service Co. International stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $47.30, for a total value of $1,363,942.80. Following the completion of the transaction, the chief executive officer now directly owns 1,051,645 shares of the company’s stock, valued at $49,742,808.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Ryan sold 50,000 shares of Service Co. International stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $47.45, for a total transaction of $2,372,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,072,809 shares of the company’s stock, valued at $50,904,787.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 575,633 shares of company stock valued at $27,215,196. 5.50% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of SCI. Cullen Frost Bankers Inc. purchased a new position in Service Co. International in the second quarter worth about $29,000. Quest Capital Management Inc. ADV purchased a new position in Service Co. International in the third quarter worth about $30,000. Lee Financial Co purchased a new position in Service Co. International in the second quarter worth about $33,000. Advisory Services Network LLC raised its holdings in Service Co. International by 119.1% in the second quarter. Advisory Services Network LLC now owns 883 shares of the company’s stock worth $41,000 after buying an additional 480 shares during the last quarter. Finally, Vigilant Capital Management LLC purchased a new position in Service Co. International in the second quarter worth about $44,000. 88.17% of the stock is owned by institutional investors and hedge funds.
About Service Co. International
Service Corporation International provides deathcare products and services in the United States and Canada. The company operates through Funeral and Cemetery segments. Its funeral service and cemetery operations comprise funeral service locations, cemeteries, funeral service/cemetery combination locations, crematoria, and other businesses.
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