$956.30 Million in Sales Expected for Service Co. International (NYSE:SCI) This Quarter

Analysts expect that Service Co. International (NYSE:SCIGet Rating) will post sales of $956.30 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Service Co. International’s earnings, with estimates ranging from $919.10 million to $993.50 million. Service Co. International reported sales of $987.54 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.2%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Service Co. International will report full-year sales of $3.86 billion for the current year. For the next fiscal year, analysts forecast that the company will post sales of $3.86 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Service Co. International.

Service Co. International (NYSE:SCIGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.36. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1 billion. Service Co. International had a return on equity of 40.43% and a net margin of 19.00%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS.

SCI has been the subject of a number of research reports. Zacks Investment Research lowered Service Co. International from a “strong-buy” rating to a “hold” rating and set a $74.00 price target for the company. in a report on Tuesday, April 19th. StockNews.com assumed coverage on Service Co. International in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group upped their target price on Service Co. International from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, February 16th. Finally, Oppenheimer upped their target price on Service Co. International from $64.00 to $74.00 in a research report on Monday, May 9th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Service Co. International presently has a consensus rating of “Buy” and a consensus target price of $76.00.

In other Service Co. International news, CEO Thomas L. Ryan sold 12,153 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $69.22, for a total value of $841,230.66. Following the completion of the transaction, the chief executive officer now owns 968,909 shares of the company’s stock, valued at approximately $67,067,880.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory T. Sangalis sold 22,800 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $69.29, for a total transaction of $1,579,812.00. Following the completion of the transaction, the vice president now directly owns 128,181 shares of the company’s stock, valued at approximately $8,881,661.49. The disclosure for this sale can be found here. 5.10% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Service Co. International by 3.8% in the fourth quarter. BlackRock Inc. now owns 16,245,403 shares of the company’s stock valued at $1,153,262,000 after purchasing an additional 591,626 shares during the period. State Street Corp increased its stake in shares of Service Co. International by 2.3% during the first quarter. State Street Corp now owns 4,610,877 shares of the company’s stock worth $303,488,000 after acquiring an additional 104,551 shares during the period. Sarasin & Partners LLP increased its stake in shares of Service Co. International by 0.6% during the fourth quarter. Sarasin & Partners LLP now owns 3,049,187 shares of the company’s stock worth $216,462,000 after acquiring an additional 17,075 shares during the period. Geode Capital Management LLC increased its stake in shares of Service Co. International by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 2,555,518 shares of the company’s stock worth $181,443,000 after acquiring an additional 157,254 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in Service Co. International by 3.5% during the first quarter. Handelsbanken Fonder AB now owns 2,358,460 shares of the company’s stock worth $155,234,000 after buying an additional 80,000 shares in the last quarter. 84.03% of the stock is owned by institutional investors and hedge funds.

NYSE:SCI opened at $69.80 on Thursday. Service Co. International has a 52 week low of $51.53 and a 52 week high of $72.07. The company has a quick ratio of 0.55, a current ratio of 0.59 and a debt-to-equity ratio of 2.15. The business’s 50-day simple moving average is $68.19 and its two-hundred day simple moving average is $66.01. The stock has a market cap of $11.08 billion, a PE ratio of 14.76, a P/E/G ratio of 2.30 and a beta of 0.73.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Service Co. International’s previous quarterly dividend of $0.25. Service Co. International’s dividend payout ratio (DPR) is currently 21.14%.

Service Co. International announced that its Board of Directors has initiated a share buyback program on Wednesday, May 4th that permits the company to buyback $394.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

About Service Co. International (Get Rating)

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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