Key Points
- Tony Coelho, a director of Service Corporation International, sold 7,700 shares on March 10 at an average price of $79.87 for a total of $614,999, reducing his stake by 21.34% to 28,388 shares (≈$2.27M), according to an SEC filing.
- SCI raised its quarterly dividend to $0.34 (from $0.32); the ex-dividend and record date is March 13 and the dividend is payable March 31, implying a $1.36 annual payout and ~1.7% yield.
- The company reported quarterly EPS of $1.14 (in line with estimates) and revenue of $1.11B (slightly below estimates), and analysts hold an average "Buy" rating with a $96.50 price target amid mixed individual upgrades/downgrades.
Service Corporation International (NYSE:SCI - Get Free Report) Director Tony Coelho sold 7,700 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $79.87, for a total transaction of $614,999.00. Following the sale, the director directly owned 28,388 shares of the company's stock, valued at approximately $2,267,349.56. The trade was a 21.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Service Corporation International Stock Down 0.1%
NYSE SCI traded down $0.11 during trading hours on Thursday, hitting $79.26. The company's stock had a trading volume of 17,621 shares, compared to its average volume of 1,118,751. Service Corporation International has a 52 week low of $71.75 and a 52 week high of $86.67. The company has a market capitalization of $11.03 billion, a PE ratio of 20.92, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The company has a current ratio of 0.55, a quick ratio of 0.50 and a debt-to-equity ratio of 3.10. The company's 50-day simple moving average is $81.18 and its two-hundred day simple moving average is $80.39.
Service Corporation International (NYSE:SCI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.14 EPS for the quarter, hitting analysts' consensus estimates of $1.14. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Service Corporation International had a return on equity of 34.21% and a net margin of 12.59%.The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. Research analysts anticipate that Service Corporation International will post 3.84 EPS for the current fiscal year.
Service Corporation International Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Service Corporation International's previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.7%. Service Corporation International's payout ratio is presently 35.79%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on SCI. Wall Street Zen lowered Service Corporation International from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Weiss Ratings upgraded shares of Service Corporation International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Service Corporation International in a report on Tuesday, January 20th. They issued an "overweight" rating and a $110.00 target price for the company. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $96.50.
View Our Latest Analysis on Service Corporation International
Institutional Investors Weigh In On Service Corporation International
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Service Corporation International during the third quarter valued at about $33,000. Quent Capital LLC bought a new position in Service Corporation International during the third quarter worth about $34,000. Root Financial Partners LLC purchased a new position in shares of Service Corporation International in the third quarter worth about $34,000. Sunbelt Securities Inc. bought a new stake in shares of Service Corporation International in the third quarter valued at approximately $42,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Service Corporation International in the third quarter valued at approximately $46,000. 85.53% of the stock is currently owned by institutional investors.
Service Corporation International Company Profile
(
Get Free Report)
Service Corporation International (NYSE: SCI) is a leading provider of funeral, cremation and cemetery services in North America. Through its network of funeral homes, cemeteries, memorial parks and crematoria, the company offers a broad array of end-of-life services, including traditional funeral ceremonies, memorialization, burial and cremation. In addition to core services, SCI provides grief counseling, pre-need planning and merchandise such as caskets, vaults, urns and memorialization products.
Headquartered in Houston, Texas, Service Corporation International operates more than 1,900 funeral homes, over 450 cemeteries and 40 combination facilities across the United States and Canada.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
