Service Corporation International (NYSE:SCI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, September 9th.
According to Zacks, “Service Corp. is the largest provider of funeral and cemetery services in the world. The funeral and cemetery operations consist of the Company’s funeral service locations, cemeteries and related businesses. The financial services operations represent a combination of the Company’s insurance operations primarily related to the funding of prearranged funeral contracts and a lending subsidiary, which previously provided capital financing for independent funeral home and cemetery operations. “
SCI has been the subject of a number of other research reports. BidaskClub upgraded Service Corporation International from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $37.00 price objective (up previously from $34.00) on shares of Service Corporation International in a research note on Friday, July 21st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Service Corporation International has an average rating of “Buy” and an average target price of $37.00.
Service Corporation International (NYSE SCI) traded down 0.82% on Friday, hitting $35.03. 993,914 shares of the stock were exchanged. The firm has a market cap of $6.56 billion, a PE ratio of 18.99 and a beta of 0.93. Service Corporation International has a 52-week low of $24.90 and a 52-week high of $35.89. The stock’s 50 day moving average price is $35.13 and its 200 day moving average price is $32.75.
Service Corporation International (NYSE:SCI) last announced its earnings results on Wednesday, July 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $773.20 million for the quarter, compared to the consensus estimate of $769.57 million. Service Corporation International had a return on equity of 24.67% and a net margin of 11.59%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. Equities research analysts forecast that Service Corporation International will post $1.47 earnings per share for the current year.
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In other news, CFO Eric D. Tanzberger sold 187,100 shares of Service Corporation International stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $34.93, for a total value of $6,535,403.00. Following the completion of the transaction, the chief financial officer now owns 150,217 shares in the company, valued at approximately $5,247,079.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael R. Webb sold 202,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $34.70, for a total value of $7,009,400.00. Following the completion of the sale, the insider now directly owns 622,903 shares in the company, valued at approximately $21,614,734.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 604,800 shares of company stock valued at $21,109,153. Insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SCI. Acrospire Investment Management LLC lifted its holdings in shares of Service Corporation International by 315.7% in the 2nd quarter. Acrospire Investment Management LLC now owns 3,687 shares of the company’s stock worth $123,000 after purchasing an additional 2,800 shares during the last quarter. IFP Advisors Inc raised its stake in Service Corporation International by 2.1% during the 2nd quarter. IFP Advisors Inc now owns 4,232 shares of the company’s stock valued at $142,000 after acquiring an additional 89 shares in the last quarter. Founders Capital Management bought a new stake in Service Corporation International during the 1st quarter valued at $185,000. Glen Harbor Capital Management LLC raised its stake in Service Corporation International by 11.1% during the 1st quarter. Glen Harbor Capital Management LLC now owns 6,064 shares of the company’s stock valued at $187,000 after acquiring an additional 608 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Service Corporation International during the 1st quarter valued at $200,000. 84.83% of the stock is currently owned by institutional investors and hedge funds.
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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